- Record a Deposit of the vendor check:
- Go to the Banking menu, then select Make Deposits.
- If the Payments to Deposit window appears, select OK.
- In the Make Deposits window, select the Received from drop-down and choose the vendor who sent you the refund.
- In the From Account drop-down, select the appropriate Accounts Payable account.
- In the Amount column, enter the actual amount of the Vendor check.
- (Optional) Enter a memo, check number, payment method, and class.
- Select Save & Close.
- Record a Bill Credit for the refunded amount:
- From the Vendors menu, select Enter Bills.
- Select the Credit radio button to account for the return of goods.
- Enter the Vendor name.
- Select the Expenses tab and enter the Accounts on the original bill.
- In the Amount column, enter the appropriate amount for each Account (the amounts may have to be prorated).
- Select Save and Close.
- Link the deposit to the Bill Credit:
- From the Vendors menu, select Pay Bills.
- Check the Deposit that matches the Vendor check amount.
- Select Set Credits and apply the Bill Credit you created earlier then select Done.
- Select Pay Selected Bills, then select Done.
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