I have overpaid my supplier by 3p which means I am unable to match the transaction in my banking properly. Apart from ask my supplier to pay it back what can I do?

Hi info591

How have you accounted for the original transaction in QuickBooks, an Expense or Bill?

Hi, I have raised a bill

That worked, thank you so much!

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@John C wrote:

Hi info591

 

When you make payment on the bill enter the amount you actually sent to the supplier in the amount box, not the payment column. You will be able to match the amount that is showing in your banking section. The system will create a credit on the supplier account, depending what you arrange with your supplier you can either use it as credit against another bill or use it as a refund if supplier credits your bank account with the amount.

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@John C wrote:

Hi info591

 

When you make payment on the bill enter the amount you actually sent to the supplier in the amount box, not the payment column. You will be able to match the amount that is showing in your banking section. The system will create a credit on the supplier account, depending what you arrange with your supplier you can either use it as credit against another bill or use it as a refund if supplier credits your bank account with the amount.

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Hi info591

That is great news, if you do require further assistance please contact us.

On the supplier account there is an overpayment which shows a credit, the supplier is paying this back but I note there is no function to record the refund back from the supplier. How is this done as QB does not define this.

Many thanks

Glenn

https://quickbooks.intuit.com/learn-support/en-uk/transactions/process-supplier-refund-credit/00/128...

Hope this helps.

Hello Glenn, Thanks for posting on this thread, so you can record the refund from the customer as a deposit posted to creditors category, NO VAT code, Supplier name. Then link the deposit and overpayment from the Suppliers account> New transactions> Cheque tick both overpayment and deposit>save and Close.