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I have a supplier where I bought several items from.
I paid them about £1250 in two payments a few days apart and I received invoices totalling about £1175 in 4 invoices over a period of about 6 weeks after I paid them.
What is the best way to record this? I've tried posting the money to their account but it won't let me.
Any advice welcomed.
Cheers
-D
Hi there, @arkadsolutions.
I appreciate you for reaching out to us here in the Community. I'll help you with recording your transactions with your supplier.
To get started, you can record the advance payment of £1250 as a check to Accounts Payable.
Here's how:
Then, record the invoice sent by your supplier.
Once done, you can now apply the prepayment to the bill.
You can open this link to learn more about the process: Record supplier prepayments or deposits for prepaid parts or services.
If your supplier gives you a refund cheque for the overpayment amount, you can use this article as your guide in handling the entry: Record a supplier refund in QuickBooks Desktop.
Aside from vendor payments and refunds, you can also review the topics from this link for more hints about tracking other vendor transactions in QBDT: Accounts Payable workflows in QuickBooks Desktop.
If you have any other follow-up questions, please let me know by adding a comment below. I'm more than happy to help. Keep safe!
hello,
How can I record an advance payment for internet. For example I pay on 30th of November a monthly internet for December to ensure that they don't cut it in midnight. How can I record such transaction ?
Hello Ziine123, thanks for posting on this thread, here are help articles with all the steps on how to record an advanced payment.
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