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Join nowAn employee made a deposit using a company credit card for a vendor to provide future services and now we don't need the service. The vendor has reversed the charge on the credit card. How do I show this in QBO? The original charge was last fiscal year.
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You can create a vendor refund, Scott Eby. It will help you return the money in the account.
First, you'll have to enter a vendor credit. It will ensure the credit hits the expense account you used for the vendor.
Next, deposit the money you got.
Lastly, connect the deposit to the vendor credit. It will ensure the transactions are accurately recorded.
For the detailed steps, please check this article on how to enter a refund from a vendor.
Reach out to the Community again if you have other concerns. We're just one post away.
You can create a vendor refund, Scott Eby. It will help you return the money in the account.
First, you'll have to enter a vendor credit. It will ensure the credit hits the expense account you used for the vendor.
Next, deposit the money you got.
Lastly, connect the deposit to the vendor credit. It will ensure the transactions are accurately recorded.
For the detailed steps, please check this article on how to enter a refund from a vendor.
Reach out to the Community again if you have other concerns. We're just one post away.
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