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Level 1

Deposit a refund check and clear negative accounts payable

We've been carrying a negative balance for a vendor on our accounts payable for credit invoices that we received when we returned materials.  The vendor has now issued us a refund check for those credits.  How do I record the deposit and clear the negative balance on the payables?

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Best answer January 05, 2019

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Level 15

Deposit a refund check and clear negative accounts payable

deposit the check and use accounts payable as the source account for the deposit, use the vendor name too

then in pay bills, select the bill the deposit created and apply the credit

View solution in original post

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Highlighted
Level 15

Deposit a refund check and clear negative accounts payable

deposit the check and use accounts payable as the source account for the deposit, use the vendor name too

then in pay bills, select the bill the deposit created and apply the credit

View solution in original post

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