Depositing vendor credit

It's a pleasure to have you here, @GR60. Let me clarify things about depositing vendor credit.

When choosing an account, QuickBooks is only allowing Bank & Credit Cards. The bank usually records everything as a single record with one total. This is also where you want to put the money into.

That being said, choosing or creating Accounts payable is unavailable. 

For more insights, please see this article: Record and make bank deposits in QuickBooks Online. It includes some ideas on how to delete and review past bank deposits.

Additionally, let me share this link to help you understand how bank deposits work with the Undeposited Funds account in QuickBooks.

Fill me in if you have other questions about managing bank deposits in QuickBooks. I'll be happy to help you. Keep safe!

Is it possible to make a deposit and take it to an expense account?  The only option I have is taking it to a bank or credit card which doesn't make sense since I've already indicated which bank account it is to go to.  Even when I try to add a new account, the only option is a bank or credit card.

Is it possible to make a deposit to an expense account?  The only option I have is to take it to a bank/credit card which doesn't make sense since I've already indicated which bank account to take it to.  Even when I try to set up a new account my only option is a bank account/credit card.

Thanks for getting back to us, GR60.

I can show you how to make a deposit to an expense account in QuickBooks Online.

Here's how:

1. Select + New.
2. Select Bank Deposit.
3. From the Account ▼ dropdown, choose the account you want to put the money into.
4. Under Add funds to this deposit, select the Expense account.
5. Click Save and Close.

If you're still unable to select the expense account, let's go ahead and run your QBO account in incognito mode. This doesn't store cache and browser history that sometimes caused issues when accessing the program. 

You can use the following shortcut keys depending on your browser type:

• Google Chrome: press Ctrl + Shift + N 
• Mozilla Firefox: press Ctrl + Shift + P
• Microsoft Edge: press Ctrl + Shift + P
• Safari: press Command + Shift + N

If this works,  you can clear your regular browser's cache so QuickBooks' history can start fresh. But if you get the same results use a different browser app instead.

You'll want to check these articles to know more about bank deposits:

• Record and make Bank Deposits in QuickBooks Online.
• What are Bank Deposits in QuickBooks?

Please let me know if you have other questions or concerns about managing bank deposits. The community is always here to help. Have a good one.

I have opened QBO incognito and cleared my history, but still nothing but bank/cc in the Account.  I've entered both a customer and a vendor in the Received From, but that does nothing either.  I am in QBO Accountant, but that's not the issue, correct?

Hello, GR60.

I appreciate the reply, and I'd like to take this opportunity to help you out with the vendor credit and the missing Accounts Payable option. 

Just to clarify a bit about the Bank deposit function, you're able to use the Accounts Payable account under the ACCOUNT column. Expense accounts can also be used as pointed by my colleague. 

By any chance, is the client under your QBO Accountant firm using the Advanced version?

We have a reported issue where users cannot see the accounts when creating a bank deposit. They are currently working to fix the function as soon as possible. 

In the meantime, you'll want to use QuickBooks Online Advanced's Batch transactions function as a workaround. Here's how: 

1. Click the + New button, then select Batch transactions. 
2. Under Select transaction type, choose Bank Deposits. 
3. For Deposit Account, select the bank account where you want to deposit the funds to.
4. Enter the Payment Date.
5. Under Received From, select the vendor's profile.
6. Under Account, select the Accounts Payable account. 
7. For the Amount, enter the amount you want to deposit.
8. Hit Save. 

However if you don't use the Advanced version, you'll want to contact our support to have this investigated. They'll use their tools to check the system and see what's preventing you from seeing the accounts properly. 

Here's how to reach them: 

1. Click the Help menu.
2. Go to the Search tab on the pop-up window.
3. Click the Contact Us button.
4. In the box, enter "cannot see accounts when doing bank deposit"
5. Hit Continue, then choose how you want to reach us. 

In relation to the reported issue, our agents can also add you the list of affected users (provided that you have the Advanced version). This way, you'll be receiving an update directly from our engineers. 

If you need more help in handling vendor credits, feel free to check out this article: Handle vendor credits and refunds in QuickBooks Online.

Are you ready to reconcile your bank account after recording the vendor credit? We have a guide to help you with the reconciliation process: Reconcile an account in QuickBooks Online.

I'm on the case again if you have other questions regarding your vendor transactions. I'll extend my scope of coverage on other areas in QuickBooks Online. I'll see you soon.