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DanielleLauraye
Level 1

How do I apply a refund for a bill that was overpaid?

Hi, I have a question recently I sent an amount of money to a vendor, and overpaid them because I received the bill later on. So I overpaid the bill by $22.39. So there is a credit now sitting on the vendors account that says  a negative balance of  minus 22.39 on the vendors account. In other words they owed me that amount of 22.39 back..SO I recieved a cheque from them later for the refund. How do I apply that amount in quickbooks?
5 Comments 5
impossible
Level 6

How do I apply a refund for a bill that was overpaid?

Use the Record Deposit function to deposit the cheque to your bank account: In the Received From column, enter the Vendor Name; In the From account, enter Accounts Payable. Complete the rest of the details and Save the deposit.
Open the Pay Bills window and checkmark the Vendor you received the refund cheque from. You will see a Credit Available for the amount of the Refund Cheque. Click on Set Credits to apply .
Lynbull
Level 1

How do I apply a refund for a bill that was overpaid?

Thank you for the useful information

KenzR
Level 1

How do I apply a refund for a bill that was overpaid?

How do you do this with Two check payments that need to go to AP? I am getting an error that I cannot use more than one AR or AP account per Deposit. I already processed the deposit however I need to change the account on two of the checks to AP. I cannot change the amount of the deposit because it will misalign with the deposit receipt. 

Kim-RawBooks
Level 2

How do I apply a refund for a bill that was overpaid?

This was great - perfectly fixed my issue!

PatriciaT
QuickBooks Team

How do I apply a refund for a bill that was overpaid?

Hi Kim-RawBooks,

 

I'm glad to hear the above advice helped you fixed your issue and accomplish your goal. Don't hesitate to reach out if you need anything else! 

 

Have a great weekend!

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