Re: If a supplier asks for a deposit then submits a bill for the work which is less than the deposit, then refunds us through the bank what are the entries in QB?
If a supplier asks for a deposit then submits a bill for the work which is less than the deposit, then refunds us through the bank what are the entries in QB?
Our supplier asked for a deposit of £300 upfront. They submitted a bill for less than that and refunded us the balance direct to the bank. How do I show this in QB?
If a supplier asks for a deposit then submits a bill for the work which is less than the deposit, then refunds us through the bank what are the entries in QB?
The simplest way to do this is to enter out of sequence.
Enter the Bill.
Enter the Refund as a Bank Deposit (against the Supplier Name, use Accounts Payable & NoVAT code) - this will show on the Supplier Register as a Credit.
Enter the deposit as a Bill Payment & clear off the Bill & Refund (which will be there as a Credit).
If a supplier asks for a deposit then submits a bill for the work which is less than the deposit, then refunds us through the bank what are the entries in QB?
The simplest way to do this is to enter out of sequence.
Enter the Bill.
Enter the Refund as a Bank Deposit (against the Supplier Name, use Accounts Payable & NoVAT code) - this will show on the Supplier Register as a Credit.
Enter the deposit as a Bill Payment & clear off the Bill & Refund (which will be there as a Credit).
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