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Level 1

E-transfer failed and the money came back in the next month

I sent an e-transfer to a supplier, and the money was withdrawn from our bank account, and the amount is shown in the monthly statement and was reconciled. However the supplier didn't receive the email, so he didn't deposit it and the e-transfer was expired, then the money was put back to my bank account.  How should I record the refund of the money and restore the bill as unpaid and at the same time didn't affect last month's bank reconciliation?

2 Comments 2
Alex M
QuickBooks Team

E-transfer failed and the money came back in the next month

Hi there CDS8,


Thanks for reaching out about your failed transfer. QuickBooks Online is a great tool able to help you keep track of sales and expenses so you know the profitability of your company. I can point you in the right direction for assistance with this bounced transfer.


For this bounced payment made to your supplier, you can follow these steps to enter the money coming back to the account, then apply the original payment so that the bill will be back to an open state:


Enter a bank deposit to reverse the bounced cheque payment.

  • Select + New.
  • Select Bank deposit.
  • Enter the date the payment was returned.
  • In the Add funds to this deposit section, select Accounts Payable from the ▼ dropdown menu in the Account column. add the returned payment amount.
  • From the Received from column, select the supplier.
  • In the Memo field, enter a note about why you created the deposit.
    Select Save.

Reopen the bill and link the bounced cheque to the deposit.


  • Go to Expenses and select Suppliers.
  • Find and select the supplier’s name.
  • In the Transaction List, find and select the bounced payment.
  • Uncheck the checkbox for the bill, then select the one for the deposit.
  • Confirm you want to make the changes, then select Save.

If you have any other questions, feel free to reach out here.

Level 1

E-transfer failed and the money came back in the next month

Thank you! That's very helpful!

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