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Kerob3
Level 1

How do I process duplicate payments from customer?

Hi,

I issued an invoice and was initially paid by cheque which has been deposited to my bank account. Since then I have also received a bank transfer payment for the same invoice. I have spoken to the customer and we have agreed that I should refund the duplicated payment via bank transfer. How do I capture the duplicated payment and the refund of the same in Quickbooks. I have already marked the invoice as paid when the initial cheque was deposited.

Thank you!

Solved
Best answer March 19, 2021

Accepted Solutions
EmmaM
QuickBooks Team

How do I process duplicate payments from customer?

Hello kerob3, 

 

Click on the +symbol

Click on bank deposit

Enter date and the bank paid to

In add funds to this deposit select payee and in account select debtors,enter the same VAT and amount as invoice and save

 

 Click on the + icon in the top right-hand corner and select 'expense' or 'cheque'.

 Put in the customer who was refunded, the date of the refund, and the bank it was sent from. 

 Below 'Account' please select the account 'debtors' or 'accounts receivable' (they are the same but sometimes go under different names).
 Put in the amount and select no VAT and save

 

Click on the +symbol

Receive payment

Select customer

make sure deposit and  expense are ticked and save

that will then record overpayment and refund

 

(There are other ways you can record the overpayment such as a customer credit note or a receive payment without selecting an invoice)

 

We do not have access at the moment to post screenshots however if you need to view it we can do a screen share you can call in on 08082345337 and we can do that.😊

View solution in original post

6 REPLIES 6
Ashleigh1
QuickBooks Team

How do I process duplicate payments from customer?

Hello Kerob3, 

 

Welcome to the Community page,  

 

So you can create a deposit to the debtors and then an expense from the debtors to show this in your account. 

Kerob3
Level 1

How do I process duplicate payments from customer?

Hi and thank you for teh quick response.

 

So, to clarify,  I record a bank deposit from the customer for the amount received by bank transfer and then record an expense transaction back to the customer for the amount returned?

And I code these both to "sale of product income"?

For vat purposes, I assume I need to record the vat on both transactions?

 

Thanks!

 

Ashleigh1
QuickBooks Team

How do I process duplicate payments from customer?

Hello Kerob3, So what you would do is create the deposit to the debtors with the correct date that the amount was received into your bank. The create the expense from the debtors with the correct date that it left the bank and link the deposit and expense by selecting receive payment from the new+icon and entering the customers name, 

Kerob3
Level 1

How do I process duplicate payments from customer?

Hi I'm so sorry that I'm not grasping this. Could you possibly include screenshots of the process, including:

  • How I should record the overpayment - this was a bank transfer payment (£1500 inc vat @ 20%)
  • How I should manage the return of this overpayment
  • How i should capture the vat on both these transactions

Thank you!!

EmmaM
QuickBooks Team

How do I process duplicate payments from customer?

Hello kerob3, 

 

Click on the +symbol

Click on bank deposit

Enter date and the bank paid to

In add funds to this deposit select payee and in account select debtors,enter the same VAT and amount as invoice and save

 

 Click on the + icon in the top right-hand corner and select 'expense' or 'cheque'.

 Put in the customer who was refunded, the date of the refund, and the bank it was sent from. 

 Below 'Account' please select the account 'debtors' or 'accounts receivable' (they are the same but sometimes go under different names).
 Put in the amount and select no VAT and save

 

Click on the +symbol

Receive payment

Select customer

make sure deposit and  expense are ticked and save

that will then record overpayment and refund

 

(There are other ways you can record the overpayment such as a customer credit note or a receive payment without selecting an invoice)

 

We do not have access at the moment to post screenshots however if you need to view it we can do a screen share you can call in on 08082345337 and we can do that.😊

View solution in original post

Kerob3
Level 1

How do I process duplicate payments from customer?

Thank you! This is really helpful! 😊