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payment made by check was returned

So I paid my potential landlord a deposit with a check and two months later he returned this money with his company's check. How do I post his check payment?   thanks 

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Best answer May 27, 2020

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QuickBooks Team

payment made by check was returned

Hi @ana-carrillo,

 

Let's go through the steps on how you can record a payment you made that got returned. 

 

You'll need to enter a vendor credit first. This is to ensure the credit hits the expense account you used on the original expense transaction created for the vendor. 

 

Here's how:

 

  1. Click the + New menu.
  2. Select Vendor credit.
  3. Enter the correct vendor under the Vendor drop-down menu.
  4. Use the category, product, or service you're getting credit for, along with its amount.
  5. Tap Save and close.

The next step would be to create a deposit to record the money you got from this refund. And finally, use a Pay Bills transaction to link both the bank deposit and vendor credit together. See the steps for this process in this article: Enter a refund from a vendor. Scroll down to Step 2: Deposit the money you got from the refund to continue the steps I provided above.

 

On the other hand, if you want to record customer refunds instead, see this article: Record a customer refund in QuickBooks Online. Other than the steps to record a customer refund, you'll find a short clip that shows the refund process.

 

Have other questions in mind? Place them in the comments below, and I'll get back to you. 

View solution in original post

1 Comment
Highlighted
QuickBooks Team

payment made by check was returned

Hi @ana-carrillo,

 

Let's go through the steps on how you can record a payment you made that got returned. 

 

You'll need to enter a vendor credit first. This is to ensure the credit hits the expense account you used on the original expense transaction created for the vendor. 

 

Here's how:

 

  1. Click the + New menu.
  2. Select Vendor credit.
  3. Enter the correct vendor under the Vendor drop-down menu.
  4. Use the category, product, or service you're getting credit for, along with its amount.
  5. Tap Save and close.

The next step would be to create a deposit to record the money you got from this refund. And finally, use a Pay Bills transaction to link both the bank deposit and vendor credit together. See the steps for this process in this article: Enter a refund from a vendor. Scroll down to Step 2: Deposit the money you got from the refund to continue the steps I provided above.

 

On the other hand, if you want to record customer refunds instead, see this article: Record a customer refund in QuickBooks Online. Other than the steps to record a customer refund, you'll find a short clip that shows the refund process.

 

Have other questions in mind? Place them in the comments below, and I'll get back to you. 

View solution in original post

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