A client has overpaid a supplier by paying an invoice twice. How do I post the bank transaction to the supplier to show the account is in credit?

c-mckinven · ‎December 14, 2021

The bank account is not linked by a bank feed and are posted manually.

Ashleigh1 · ‎December 16, 2021

Hello StephWilson, thanks for commenting on this post. So you have over paid the supplier is the supplier going to refund the money back into the bank? If so then you mark the bills as paid as that has happened in real life then you create the supplier credit and then do the bank deposit to creditors, then sue the cheque option to match them together, then match at the bank.

If the supplier has told you to use that money when they next order of them, then you just create the supplier credit on the supplier account and apply it at a later date of your choosing.

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ChristineJoieR · ‎December 14, 2021

Hi there, @c-mckinven.

I’ll assure you everything will be sorted out for you.

After you've created your supplier credit, you'll need to make a bank deposit. This way, the credit will be tied to the deposit automatically. Then, when reconciling your account at the end of the month, you'll be able to show the amount.

Follow the steps below:

Select the + New option.
Choose a Bank Deposit option.
Enter the credit amount and all other essential details in the Add other monies to this deposit area.
Save and close or Save and new are the options.

Additionally, if you need to track customer and vendor refunds in QBO in the future, I've included some resources below to help you:

Let us know how this solves your concern by hitting the reply below. May you have a beautiful day ahead!

StephWilson · ‎December 16, 2021

Thank you for your message and trying to help us with our query. I think there is a misunderstanding, though. We have paid the supplier twice in error. One payment is correct, the other is "double paid" and we need to account for this. Can you please suggest guidance?

Ashleigh1 · ‎December 16, 2021

Hello StephWilson, thanks for commenting on this post. So you have over paid the supplier is the supplier going to refund the money back into the bank? If so then you mark the bills as paid as that has happened in real life then you create the supplier credit and then do the bank deposit to creditors, then sue the cheque option to match them together, then match at the bank.

If the supplier has told you to use that money when they next order of them, then you just create the supplier credit on the supplier account and apply it at a later date of your choosing.

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A client has overpaid a supplier by paying an invoice twice. How do I post the bank transaction to the supplier to show the account is in credit?