You can still record it as a deposit because it is a return of the funds that were temporarily held by the hotel. I'm here to guide you through the process, the_tile_setters.
To record the deposit refund accurately, follow these steps:
- Go to the Banking menu, and then select Make Deposit.
- In the Make Deposits window, select the business bank account where the deposit refund was credited in the Deposit To field.
- Enter the date the refund was deposited into your account in the Date field.
- In the Received from column, enter the name of the entity that returned the deposit, the hotel.
- In the From Account column, select the account that originally paid the deposit (likely an expense account associated with travel or accommodations).
- Enter the amount that was refunded in the Amount column.
- Add a memo if necessary, describing the transaction as a refund of the deposited amount.
- Click Save and close.
For further guidance on how to record and combine multiple bank deposits in QuickBooks Desktop, refer to this detailed article: Record and Make Bank Deposits in QuickBooks Desktop.
Additionally, understanding the different Bank Feed modes available can enhance transaction management. Learn more about each mode and how QuickBooks handles transaction matching by reading this informative article: Add and Match Bank Feed Transactions in QuickBooks Desktop.
If you have any further questions or need additional assistance recording deposits, please don't hesitate to let us know. We're here to help ensure your financial tracking is as seamless and accurate as possible.
