Hi, AMEX sent us a check for a credit balance on our credit card account of $175. We use QB Desktop Premier Nonprofit Edition 2021. We don't nave "customers" we have "donors" so the "sales receipts are donations which I enter in "Enter Donations ":Which AMEX is not in this case., I have no idea how to post this so that it shows up as a credit in the credit card account but came as a check and how to indicate it is not a donor so it does not show up in the "Biggest Donors Report". American Express is in our QB as a vendor. Do I have to create an "American Express " customer name to enter the check ? . I also just noticed in the "Nonprofit Menu" that in addition to "Enter Donations" and "Enter Pledges" it also has "Receive Payments". Is that something I would use? Hmm.. Any ideas on how I enter this check for the credit balance refund are so appreciated!
Solved! Go to Solution.
Are you saying that you had a $175.69 credit balance with AMEX and this check is for that credit? If so, all you need to do is to create a bank deposit and assign your credit card liability account to the deposit under ACCOUNT. You can enter AMEX (Vendor) in the RECEIVED FROM field but it's not required. That will post the deposit to your bank account and a corresponding reduction in your AMEX cc liability so the amounts can be cleared against each other the next time you reconcile the AMEX.
Hi there, SavingWhales.
Due to the different nature of businesses, QuickBooks presents different terminologies from each other with the same functionalities to comprehend the type of business you have.
Similar to what you have mentioned, for other types of business, QuickBooks may label them as Customers but Donors for Non-Profit Organizations and Sales Receipts as Donations. Worry less as they work the same in recording your transactions in QuickBooks Desktop (QBDT).
Concerning recording the credit you’ve received from QuickBooks in American Express (AMEX) bank, I have the steps you can follow so we can account for them accordingly.
Before that and just to let you know, there’s no need to set up your AMEX account as a customer and utilize the Enter Donations, Enter Pledges, and Receive Payments functionalities as these are used to record the donations you received from individuals, corporations, government entities, or other entities.
On top of that, this transaction won’t appear in your Biggest Donors Report as they’re not recorded as Donations.
To start recording, here’s how you can do that:
You can also consult your accountant for other suggestions for recording the credit in QBDT.
I also have here the resources that will give you more information about Non-Profit Organizations:
Please let me know if you have any follow-up questions or concerns about charitable transactions. I'm always here to answer them. Have a good one!
Hi Rose, I still need an answer as your reply did not cover what we need to do to process the paper check from the credit card company. It is an actual check. I do thank you for the details on how to apply a "credit refund" within the Credit Card Account. I do know how to do that and use that feature often when the credit card company applies the credit to the account/ statement. I will keep that reply as it is a good explanation of the steps for doing that. Thanks!
However in this case the credit card company, American Express, sent the credit refund as a CHECK that needs to be deposited in the bank.
1. Do I first post the credit card refund to the AMEX account or is that covered in Question #2 ? If posted to both the AMEX account and as a deposit into the bank account will it appear that we received $175 twice? Hmm..
2. Depositing the Credit Card Refund CHECK.
What are the steps for posting the $175 refund that came as a paper check from American Express? which we need to post it to the bank account as it will be deposited into our XYZ bank? How to post it so it does not show up as a "donation" instead of a refund in our "Desktop 2021 Premier Nonprofit Edition ?
I look forward to your reply and appreciate your help !
Sue
Hi, we still need to know how to post the PAPER CHECK REFUND from American Express to our Bank Account as well as to the American Express credit card account. This came as a check, not a statement refund. Please see attached. ( I do appreciate your clear instructions on how to post to post a credit card refund in the account which is something we do regularly, but this time it came as a paper check which requires posting to the bank account,too). Now I need to know how to deposit the check into the bank account so that the posting shows it is a refund from AMEX and not a donation to our organization, and how to link that to the AMEX account. We also need to make sure we post it correctly so it does not look like we received the $175 twice.
Thanks in advance, I really appreciate your help.
Looking forward to hearing from you,
Sue
Greetings, SavingWhales2022! We appreciate your prompt response to the thread and for providing additional details to help us give you the appropriate information.
In your case, I agree with my colleague's advice that you should record the Credit Card Charges first in order to document the refund transaction you received from AMEX. Since you still need to deposit the physical check refund into your XYZ bank account, we can proceed by generating a bank deposit from the AMEX account. I'd be delighted to guide you through the process.
To get started, please follow the steps provided by RoseJillB above to enter Credit Card Charges. Once completed, proceed with the following steps:
You can refer to the screenshot below:
I've also included these articles that will guide you in recording refunds you received from a vendor or customer:
Moreover, you can keep these resources that you can use in handling bank transactions moving forward:
Please reach out to us if you have further questions or need assistance with other QuickBooks challenges. The Community is always here to assist you. Have a successful year, SavingWhales2022!
Hi, Sirel,
I did the first part that you (and Rose ) suggested to post it in the Amex account as a credit but the posting of the check is still to be figured out. Unfortunately the instructions that you gave me on entering the AMEX check using the "Banking: Make Deposit" do not work in Desktop Premier Nonprofit 2021. "Make Deposit" requires that I enter the deposit before going to the "Make Deposits" window. There is no field in that window for entering the bank. That comes after I click on the deposit itself which is generated before that by making a "Sales Receipt" or in our case a "Donation Receipt". All of your instructions apply to the "Sales Receipt" process not the "Make Deposit" process. My question is to how to make that Receipt so that it shows up in "Make Deposits" without it being entered as a "Donation", (and thus appear in the :"Biggest Donations Report" or in Contributions in the Profit and Loss Report, and to make sure that it does not appear twice (once as a credit in AMEX and once as a "donation" in "Deposits". Maybe I am missing something here? I'd appreciate it if you or someone at QB could call up the QB Desktop Premier 2021 version and do a test of this to see what I should do. I look forward to hearing back from you.
Hi , my reply does not seem to appear here so I am doing a second one.
Thanks for responding but your instructions do not work in Desktop 2021 Premier Nonprofit.
I did do the credit post in the Amex credit card account which both your and Rose suggested.
Now we need to enter the check but your instructions do not apply to this version.
You said to go to "Banking" , "Make Deposits" and choose the bank, etc. That is not how it works in this version (Desktop Premier Nonprofit ) . The Deposit has to be prepared first by going to "Enter Donations " (which are Sales Receipts). which is where AMEX, etc is entered and then it appears in "Make Deposits". One issue here is that the "Enter Deposits" requires that there be a Customer Name to enter. It apparently does not accept the Vendor name. So we have 2 issues : 1) how to make sure that the $175 is not counted twice (once in Amex as the credit) and (once in Deposits). Otherwise that throws off the Profit and Loss. 2) how to create the "Sales Receipt" which is "Donations" in Nonprofit version and not have QB record it as a Donation which then appears in the Profit and Loss as a donation and in the Biggest Donors Report. Please have someone at QB use the Premier version and figure this out. Thanks in advance !
I thank you for your patience in performing the solutions above, @SavingWhales2022.
Since you've already followed the steps given by my colleague and none of them fits your circumstance, we can enter a Journal Entry for this one. It is the last resort for entering transactions.
Before you do so, I suggest reaching out to your accountant for proper guidance and to learn more about your accounting. You can also find an accountant if you need one.
Here's how to add a journal entry:
To know more details on how to manage your Journal Entry transactions, you can check out this article: Create a journal entry in QuickBooks Desktop for Windows or Mac. This contains steps on how to edit, reverse, and delete the entry.
I've added this article for your future task when running financial reports in QuickBooks Desktop: Customize company and financial reports.
Don't hesitate to leave a comment below if you have other concerns or follow-up questions about this. I'll be around to provide further assistance.
Hi Daniela, thank for taking the time to work on this. Unfortunately none of the QB folks who responded , including you, have addressed the question of how I enter the check. A journal entry is not how one deposits a check into a checking account.
I encourage QB to find task someone at QB who likes challenges to recreate this situation using Desktop 2021 Premier Nonprofit (has to be nonprofit) as so far it has not been solved by 3 of you who have tried to address this. Again the issue is how to do the data entry for a paper check which will be deposited into the bank that is a refund of the credit balance on a credit card. So it involves doing the data entry for the actual paper check which I will be taking to the bank AND noting it as a credit balance that was manually refunded via check so that the credit card account after the check is deposited is zero.
Up for the challenge?
Hi Daniela, thanks for working on this question. I am confused though, by you answer. Are you suggesting that I use a Journal Entry as the way to post the paper check that we received from American Express for the credit balance refund? The deposit of the check will be listed on the bank statement. Will the journal entry appear there?
We don't have an accountant, BTW, as we are a small nonprofit and accountants are expensive.
Again my issue is who to process the deposit into the bank of a paper check that is a refund for a credit card balance.
It might be informative if QB would find someone in the company who likes challenges who will actually do this using the Desktop 2021 Premier Nonprofit Edition (has to be Nonprofit) and then walk me through the steps once they figure it out. I appreciate the work each of the 3 of you who have replied to this question have d put into it but I am still hoping someone at QB or in the Community who has done this at their nonprofit can answer this.
Again, the situation is that American Express send the credit balance refund to us a paper check instead of a statement credit. How to post it so we can deposit it into the bank and not have it appear as a donation in the Nonprofit edition.
Have a great week and I look forward to what QB comes up with.
Regards,
Sue
I understand that it can be frustrating when the suggested steps don't work as expected,SavingWhales2022. I'm here to support you every step of the way.
To make a bank deposit and record a received check in QuickBooks Desktop, you can follow these steps:
Once done, we can make a Bank Transfer to move the funds from the bank to a Credit Card. Here's how:
It's important to consult with an accountant to ensure the integrity and accuracy of your data. An accountant can provide valuable guidance and expertise in managing your financial records and transactions.
Should you have other questions about transferring funds in QBDT, please let me know how can I help. Have a great day.
Are you saying that you had a $175.69 credit balance with AMEX and this check is for that credit? If so, all you need to do is to create a bank deposit and assign your credit card liability account to the deposit under ACCOUNT. You can enter AMEX (Vendor) in the RECEIVED FROM field but it's not required. That will post the deposit to your bank account and a corresponding reduction in your AMEX cc liability so the amounts can be cleared against each other the next time you reconcile the AMEX.
Why do you have a donation/sales receipt? You don't want that. All you want to do is to enter a deposit. Go to Banking > Make Deposits. Under 'Deposit To', select your bank account. Under 'FROM ACCOUNT', select your AMEX cc liability account. That's it.
ALMOST THERE !
Update after making the Deposit per your instructions (which worked! I had no idea I could create a deposit that way, always thought it had to be populated by doing prior action like a Sales Receipt. Mahalo for that easy solution! ) The issue now is that our AMEX statements close on the 28th of each month. The refund per the statement was in Aug but the check was deposited Sept 29 so will show up on the September statement.
How can I reconcile the August statement if the refund via check is not on it? Should I just wait and Reconcile both August and September at the same time (ie treating them as on statement?)
In Brief:
The August 28 statement shows the $175.69 as a charge for 08/28/23 "Credit Balance Refund"
(for anyone new AMEX sent this refund as a paper check , physically received in September, after this statement closed).
Deposit of the check is : 09/29/29 so on the next statement
Look forward to your reply.
With much appreciation,
Sue
Written earlier:
Ah ha! Didn't know I could fill that in without doing a sales receipt first! Being entirely self - taught that just never occurred to me. Thanks in advance! It's 5:30 AM here and I woke up worrying about this so very grateful for this simplistic way to do this. I will try that when I am more awake and get back to you with any questions. Aloha, from Hawaii, Sue
Hi Everyone,
Thanks SO much for your replies. This is SOLVED ! Turns out that I had not realized that one could inpuit a deposit directly into the "Make Deposits" . I thought it had to be populated like regular deposits are. But no! As you all tried to understood but I didn't, was that I could do that. So I did. And I solved the dilemma of having the refund be on the August statement but the check deposit be on the Sept statement by rereconciling August with no changes to the beginning balance and then reconciling Septembe with both the August and the September entries. All is balancing now !
I cannot thank all of you for the work you did on this !!!!
. Please pass on to the following QB Team members how much I appreciated their help and patience on my banking issue. All so knowledgeable and so helpful !!
I hope I have their names listed correctly:
Big hugs to all !
RoseJillB QB Team
SirelJeaB QB Team
Daniela-A QB Team
LeizylM QB Team
and of course Rainflurry, individual
You're welcome, @SavingWhales2022!
I'm thrilled to learn that our assistance has been valuable in resolving your concerns. Your positive feedback is greatly appreciated, and we are committed to providing ongoing support for any future QuickBooks challenges you may encounter.
Whether you need further assistance or simply want to engage with the Community, please don't hesitate to reach out to us. Click the Reply button below or post a new query, and we'll be eagerly waiting to assist you. We are dedicated to supporting your business venture and wish you a highly productive day ahead. Stay safe and take care!
Hi, Rainflurry.
I appreciate you for always sharing your knowledge about QuickBooks. This will definitely help other users as well in the future. Please keep on posting here in the Community.
Stay safe and have a great rest of the day.
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