Returned supplier payment due to incorrect bank details

Muckeye · ‎September 20, 2024

Hi all, this is my first post to the community, and I'm a bit of a QB novice.

I have made a payment to a supplier, but I got the bank details of the supplier incorrect so the payment has been returned. I now have two bank transactions that cancel each other out, a debit for the original payment, and a credit for the 'returned' payment. How do I match them?

Many thanks in advance for any assistance!

David

MaximumBookkeeping

You can make a journal entry as follows:

DR Bank

CR Bank

Add any bank fees to the DR side.

Also, change the date on the bill payment, but make a note that the payment was returned. Also, make the same note on the journal entry, so anyone reading in the future knows why this entry was made.

Trish_T

Hi Muckeye,

Click here to learn more about entering supplier credits in QuickBooks Online.

Let us know if you have other questions. We would be happy to help!

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Returned supplier payment due to incorrect bank details

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Returned supplier payment due to incorrect bank details

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