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Level 2

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

 
11 REPLIES 11
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QuickBooks Team

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

Hello there, @GCbookkeeper.

 

You can enter a supplier refund cheque on the Deposit screen. Then, you can link the deposit to the supplier credit. Let me guide you how.

 

In the meantime, you can match the expense to the refund in the bank feed and successfully reconcile it later.

 

Here's how to enter a supplier refund cheque: 

  1. Go to the + New button.
  2. Select Bank Deposit.
  3. In the Add New Deposit section.
  4. Under the Receive From column, choose the supplier you overpaid.
  5. Under the Account column, choose Creditors as the affected account.
  6. Enter the refund amount.
  7. Click Save and close.

Here's how to link the deposit to the supplier credit:  

  1. Go to the + New button.
  2. Select Expense or Cheque.
  3. Choose the supplier name in the Choose a payee drop-down. 
  4. Leave the Reference/Cheque #, Date, Amount and Memo fields blank.
  5. Click Add for the outstanding supplier credit and deposit from the Add to Expense or Add to Cheque section. 
  6. Click Save and close.

For more insights about handling supplier credits and refunds, here's a great article you can refer to Match Supplier Refund to Supplier Credit

 

After that, you can go ahead and match the transactions

 

Feel free to post here in the Community again if you have questions. We're here to help.

Highlighted
Level 2

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

Hi, 

This doesn't work for our situation - I've already found that solution online and tried it, hence why I asked the question. You can't enter a deposit to a credit card account.

 

We received an expense from the supplier and paid it.

 

We then received a credit note from the supplier and entered into qbks - showing the suppliers account to be in credit now.

 

We then received a refund to our credit card to match the credit note.

 

We need to match the credit card refund against the credit note to show a nil balance on the suppliers account.

 

Is this possible? 

 

Years ago in Qbks you would have simply been able to match the credit note against the refund payment but it doesn't seem to be as straightforward with this new qbks online system.

Highlighted
QuickBooks Team

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

You can create a credit card credit for the refund payment, GCbookkeeper.

 

Here's how to create a credit card credit:

  1. Click the New or Plus sign (+) icon.
  2. Select Credit card credit
  3. Fill in the necessary fields.
  4. Enter the amount, then click Save and close

Although, you're unable to link this to the credit note. The same as you're unable to link it with an expense/deposit.

 

You may want to confer with your accountant on the best way to handle this. 

 

We're just around if you have an additional question. 

Highlighted
Level 2

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

Although, you're unable to link this to the credit note. The same as you're unable to link it with an expense/deposit.

 

So you're able to link a purchase invoice with a payment, 

but you can't link a purchase credit note with a refund?

 

This can't be true - they are basically the same transactions but in reverse!

 

Highlighted
Moderator

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

Thanks for dropping by again, @GCbookkeeper,

 

Matching a credit card refund to a credit note is currently not an option at the moment. Having this time-saving option available in QuickBooks is a great idea. I'll be sending this feedback to our developers for review and evaluation.

 

Check out the following article for reference: How do I handle supplier credits and refunds?

 

Visit our QuickBooks Resource page to learn various tasks in QBO. Here's the link for you reference: Getting Started with QuickBooks Online UK.

 

The Community is always here for you. If there's anything else I can help with QuickBooks, please let me know in the comment below. I'm always here to help. Have a good one!

 

 

 

 

Highlighted
Level 2

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

@Jen_D - the example you included showed a transaction on the accounts receivable side - my issue is with a transaction on the accounts payable side.

 

How does this help me specifically with my question?! 

 

 

Highlighted
Moderator

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

Hello there, GCbookkeeper, 

 

I already partnered with my colleague Jen_D to update the article included in her post above. Rest assured that I also submit this to our product engineers on how you'd want to have the option of matching the supplier credit note against the credit card credit. 

 

For now, I'd suggest visiting this website: QBO UK Blog. This link provides you with articles to help your small business prosper.

 

Please know that you're welcome to post any concerns in the Community. We're here to help, GCbookkeeper. 

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Level 3

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

Hi everyone,

 

I am also having the same frustration as GC Bookkeeper with this. I think i found a way to match the credit card credit to the supplier credit (i raised a dummy bill for 0.01 so that i could 'make payment' and select the credit card credit and supplier credit to clear them both down) but this then creates an issue if the transaction has VAT as it hits the VAT control account twice? So basically if the transaction has VAT then i think we need to make sure we only enter either a "credit card credit" or a "supplier credit", not both. (In these cases i then had to delete the supplier credit, save the attachment and attach it to the credit card credit).

 

Please can you advise if this was referred to the developers and if there is now a better way of matching the supplier credit to the credit card credit? 

 

Many thanks

Highlighted
QuickBooks Team

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

Thanks for joining in this conversation, and for sharing your experience, @kitikati. To clarify, you only need to create a Credit Card credit. You do'n need a supplier credit or an expense as it will create double entry. 

 

That way, you'll then be able to match this within banking transactions. Check out this article for more insights: Categorise and match online bank transactions in QuickBooks Online

 

Additionally, all our suggested plans are subject to further study. I'd recommend you visit our QuickBooks blog site regularly to get you in the loop about what's new and what's coming in.  

 

Feel free to visit us again if you have other concerns. We're always delighted to help you more. 

 

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Level 2

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

Hi, I have had the exact same issue and it's impossible with QBO.

 

I literally just had to create a deposit for the amount refunded however, in my case the supplier issued one too many credit notes by accident so now I'm left with a credit note and how to deal with it.

Highlighted
QuickBooks Team

Credit note from supplier entered. Same supplier refunded credit card. How do I match Supplier Credit against Credit Card Credit?

Hello Sr1962dl, 

 

Thanks for Commenting on this thread, 

 

Can we just get you to clarify if you are needing help with the linking the 2 or how to record it? 

 

Is it a credit card refund and if it is are you looking to link to the supplier credit and if you could send us some screenshots of what you have recorded so far would be very helpful for us.