Register a bill payment twice along with an Accounts Receivable

I'm here to guide you in recording the bill payment in QuickBooks Online (QBO), rigojr.

First, we'll need to create a bank deposit to record the refund:

1. Click the + New button on the upper left menu and select Bank Deposit.
2. In the Bank Deposit window, go to the Add funds to this deposit section.
3. Under the Receive From column, select the supplier.
4. Under the Account column, choose Creditors (Accounts payable) as the affected account.
5. Enter the amount.
6. Lastly, click Save and close.

Then, create a check or expense entry to link the transactions and offset the amount, as there are no open bills to associate the transactions with.

1. On the upper left panel, click the + New button and click Cheque or Expenditure.
2. Choose the supplier in the Payee field.
3. In the Category field, enter Creditors (Accounts payable), then include an Amount.
4. Click Save and close.

Once done, match the bank deposit you've created in the Bank Transactions section.

Moreover, I'll be sharing this reference that'll guide you in running reports for your suppliers for the payments they made: Run a report with supplier totals.

If you have follow-up questions, please don't hesitate to add a comment below. We'll get back to you as soon as possible.

I appreciate your reply and adding clarifications to your concern, rigojr.

I'm here to add information about recording the payment in QuickBooks Online (QBO).

Yes, it would make an accounts receivable entry once you receive the refund. That's when you create a bank deposit and choose the Creditors (Accounts Payable) as the affected account.

You can make an expense or check to match it from the additional payment your vendor has asked for.

After the deposit for the refund has been made, you can link it to the check.

In addition, I've also added these great resources that'll help you customise your reports based on the information you need, as well as how to save their current customization settings:

• Customise report in QuickBooks Online
• Memorise report in QuickBooks Online

You can always reply if you have other questions about managing your vendor transactions in QBO. I'll get back here as soon as possible to help you again. Thanks for dropping by, and stay safe always.

You can select any bank account in the Account field, @rigojr. Allow me to chime into this thread and explain further below.

In the Account dropdown arrow, choose your bank. In the Add funds to this deposit section, for the Account column, you can select Accounts Payable since this is an reimbursement from your vendor.

Additionally, you can also run reports so you'll know the different angles of your business such as the sales and spending. To learn more, I've added this article for more information: Run Report in QuickBooks Online.

Furthermore, don't hesitate to return to this platform if you encounter any challenges while performing bookkeeping tasks in the software. We're committed to addressing all inquiries and ensuring your QuickBooks experience is smooth and efficient.

Let me provide additional information regarding bank accounts in QuickBooks Online (QBO), Rigo.

If the $20,000 is a payment to a vendor, you may need to create a Bill Payment:

1. Go to the +New button.
2. Select Pay Bills under the Vendors section.
3. Choose the vendor and enter the amount you wish to pay.
4. Select the bank account from which payment will be made.

Making a payment reduces your Accounts Payable balance and your bank account balance by the payment amount. If you're waiting for payment from a vendor, create an invoice and record the payment once it arrives.

Additionally, you can learn how to run basic reports in QBO to give a snapshot of your business.

I'm always free to assist whenever you need additional assistance managing your accounts. Have a great day ahead.