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Jwhits
Level 2
posted
‎June 22, 2022 05:23 PM
last updated ‎June 22, 2022 12:23 AM

Duplicate payment to a supplier resulting in a credit with the supplier

We made a second payment to the supplier by mistake. We matched the first payment from the bank account to the bill. We now have a credit with the supplier for the second payment amount but no bills to apply it to yet. How do we assign the second payment in the bank account as a credit for the supplier? So we can then use it when we next buy from that supplier.

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Best answer June 22, 2022
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IntuitSheila
Level 8
‎June 22, 2022 06:04 PM

Duplicate payment to a supplier resulting in a credit with the supplier

Hello Jwhits,

 

Thank for the additional information.

 

If the second payment is showing in the For Review tab, you can add them in QuickBooks Online and allocate them to the Accounts Payable account in the Category field, and make sure to select a specific supplier before adding the transaction. With (Out of Scope of GST) tax code. That way the overpayment will show as Credits on the specific supplier you made the payment to and can apply to your future bills.

 

Reach back to us if you need further assistance. The Community is here to help you!

 

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AlcaeusF
Moderator
Moderator
‎June 22, 2022 08:19 PM

Duplicate payment to a supplier resulting in a credit with the supplier

Hello @Jwhits,

 

Thank you for taking the time to provide additional information about the issue. Allow me to chime in and share some clarification about your QuickBooks Banking concern. 

 

I can see that the first payment is matched correctly to the bill. To answer your question, yes, you can skip the steps provided by IntuitAika and follow the solutions shared by Intuit Sheila.

 

You only need to add the downloaded second payment instead of matching it. We recommended selecting Accounts Payable from the Category to apply the transaction to your future bill.

 

Also, there's an option to get rid of downloaded transactions you don't want to add to QuickBooks. For more details about the process, I've attached this article: Exclude a bank transaction you downloaded into QuickBooks Online.

 

I'm always available here in the Community space anytime you need help with managing downloaded bank transactions. Have a great day ahead.

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7 Comments 7
IntuitAika
Intuit
Intuit
‎June 22, 2022 05:40 PM

Duplicate payment to a supplier resulting in a credit with the supplier

Hi Jwhits,

 

Thanks for posting in the Community! If a refund is not recorded yet on the duplicate payment made to the supplier, you can follow these steps.

 

  1. Select + New.
  2. Select Supplier Credit.
  3. In the Supplier field, select the appropriate supplier name.
    • Enter the Date.
    • Amount.
    • Account: the account used here is typically the original expense account on the original bill.
  4. Select Save and close.

 

After that, make a bank deposit to enter the supplier refund.

 

  1. Select + New.
  2. Select Bank Deposit.
  3. In the Add funds to this deposit section, fill in the following fields:
    • Received from: Select or enter the Supplier name.
    • Account: Select the Creditors (Accounts Payable) account.
    • Amount: Enter the Supplier refund amount.
  4. Select Save and close.

 

Once you create a bill payment, you'll be able to apply the deposit you've created.

 

For more detailed information, you can check on this article: Handle supplier credits and refunds in QuickBooks Online.

 

Feel free to drop a comment below if you need further assistance. Have a great day! 


 

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Jwhits
Level 2
‎June 22, 2022 05:48 PM

Duplicate payment to a supplier resulting in a credit with the supplier

Hi  IntuitAika,

 

Current no refund and there will never be a refund. The supplier will just apply the credit to our next purchase whenever that will be.

 

How do I match the bank transaction in your steps?

 

Thanks

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IntuitSheila
Level 8
‎June 22, 2022 06:04 PM

Duplicate payment to a supplier resulting in a credit with the supplier

Hello Jwhits,

 

Thank for the additional information.

 

If the second payment is showing in the For Review tab, you can add them in QuickBooks Online and allocate them to the Accounts Payable account in the Category field, and make sure to select a specific supplier before adding the transaction. With (Out of Scope of GST) tax code. That way the overpayment will show as Credits on the specific supplier you made the payment to and can apply to your future bills.

 

Reach back to us if you need further assistance. The Community is here to help you!

 

Reply
Jwhits
Level 2
‎June 22, 2022 07:01 PM

Duplicate payment to a supplier resulting in a credit with the supplier

Hi IntuitSheila,

 

Just so I am clear, I do not need to do IntuitAika's steps just your steps as it is a bank transaction?

Reply
AlcaeusF
Moderator
Moderator
‎June 22, 2022 08:19 PM

Duplicate payment to a supplier resulting in a credit with the supplier

Hello @Jwhits,

 

Thank you for taking the time to provide additional information about the issue. Allow me to chime in and share some clarification about your QuickBooks Banking concern. 

 

I can see that the first payment is matched correctly to the bill. To answer your question, yes, you can skip the steps provided by IntuitAika and follow the solutions shared by Intuit Sheila.

 

You only need to add the downloaded second payment instead of matching it. We recommended selecting Accounts Payable from the Category to apply the transaction to your future bill.

 

Also, there's an option to get rid of downloaded transactions you don't want to add to QuickBooks. For more details about the process, I've attached this article: Exclude a bank transaction you downloaded into QuickBooks Online.

 

I'm always available here in the Community space anytime you need help with managing downloaded bank transactions. Have a great day ahead.

Reply
JT1077
Level 1
‎February 16, 2023 06:24 AM

Duplicate payment to a supplier resulting in a credit with the supplier

Which transaction type would you select?  Expense or Cheque?

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Giovann_G
Moderator
Moderator
‎February 16, 2023 07:43 AM

Duplicate payment to a supplier resulting in a credit with the supplier

It depend on the situation, JT1077.

 

Both Expense and Cheque report a transaction as an expense and a payment at the same time. If you wish to print a cheque, you can create a Cheque. Use Expense to record any credit card payments you made for expenses.

 

To help you enter those transactions, you might refer to the following articles below:

 

 

If you plan to pay for the expenses in the future, you can enter it as a Bill in QuickBooks Online. 

 

Do you receive a refund or credit from a supplier? If yes, check out this resource to guide you entering and recording refunds: Enter supplier credits and refunds in QuickBooks Online.

 

Let us know if you have further questions about Cheque or Expense transaction. We're available to help you at any time.

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