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williamfaulks
Level 1

Can I enter a negative Expense entry? I paid a Vendor, then he refunded me .13 cents more than I paid. Trying to reconcile my credit card...

Trying to RECONCILE credit card account. Card was refunded .13 cents more than what I paid for an item.
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Best answer January 25, 2022

Best Answers
CharleneMaeF
QuickBooks Team

Can I enter a negative Expense entry? I paid a Vendor, then he refunded me .13 cents more than I paid. Trying to reconcile my credit card...

I know it can be difficult when you can't reconcile your account due to a negative expense entry, williamfaulks. I'm here to assist you with that.

 

Entering a negative amount higher than the actual expense amount isn't possible in QuickBooks Online. Thus, I'd suggest creating a credit card credit. This will be posted as a negative amount under your vendor's profile.

 

Here's how:

 

  1. Go to the + New button and then choose Credit card credit.
  2. Select the vendor name.
  3. Find the account from the Bank/Credit Account drop-down box.
  4. Choose the category and enter the $0.13.
  5. Once done, click on Save and Close.

 

For more details about the process, please see this article: Record a Cash Back to my Credit Card Account.

 

Once done, you can now reconcile your credit card account. You can check out this article for the detailed steps of the reconciliation process. This ensures everything is accurate: Reconcile an account in QuickBooks Online.

 

I'm always here if you still need help in recording and reconciling your transactions, williamfaulks. Please let me know by leaving a reply below. Keep safe always!

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3 Comments 3
CharleneMaeF
QuickBooks Team

Can I enter a negative Expense entry? I paid a Vendor, then he refunded me .13 cents more than I paid. Trying to reconcile my credit card...

I know it can be difficult when you can't reconcile your account due to a negative expense entry, williamfaulks. I'm here to assist you with that.

 

Entering a negative amount higher than the actual expense amount isn't possible in QuickBooks Online. Thus, I'd suggest creating a credit card credit. This will be posted as a negative amount under your vendor's profile.

 

Here's how:

 

  1. Go to the + New button and then choose Credit card credit.
  2. Select the vendor name.
  3. Find the account from the Bank/Credit Account drop-down box.
  4. Choose the category and enter the $0.13.
  5. Once done, click on Save and Close.

 

For more details about the process, please see this article: Record a Cash Back to my Credit Card Account.

 

Once done, you can now reconcile your credit card account. You can check out this article for the detailed steps of the reconciliation process. This ensures everything is accurate: Reconcile an account in QuickBooks Online.

 

I'm always here if you still need help in recording and reconciling your transactions, williamfaulks. Please let me know by leaving a reply below. Keep safe always!

williamfaulks
Level 1

Can I enter a negative Expense entry? I paid a Vendor, then he refunded me .13 cents more than I paid. Trying to reconcile my credit card...

Thank you Charlene!  This is an amazingly simple fix, after spending over an hour trying to fit a square peg in a round hole.  Thanks for sharing your expertise!

CharleneMaeF
QuickBooks Team

Can I enter a negative Expense entry? I paid a Vendor, then he refunded me .13 cents more than I paid. Trying to reconcile my credit card...

Glad the steps work, williamfaulks.

 

Hope you’re doing great. In case you need any additional help or clarification about managing vendor credits, just let me know. I’d be happy to help you at anytime.

 

Looking forward to your reply. Have a pleasant day ahead! 

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