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Level 2

A vendor payment made through my bank is returned to the bank. How do I record in QB?

I tried to follow the following Scenario as follows. But when I get to section 3, it says to go to PAY BILLS and check the deposit that matches the vendor check amount. Am I missing something? There is no deposit showing up on the PAY BILLS and the credit is not listed. Can someone help me? I am on Enterprise Solutions Mfg & Whsle 18.0.

 

Scenario 1: The vendor sends you a refund check for a bill that is already paid

1. Record a Deposit of the vendor check:

a. From the Banking menu, click Make Deposits.
b. If the Payments to Deposit window appears, click OK.
c. In the Make Deposits window, click the Received from the drop-down and choose the vendor who sent you the refund.
d. In the From Account drop-down,  select the appropriate Accounts Payable account.
e. In the Amount column, enter the actual amount of the Vendor check.
f. (Optional) Enter a memo, check number, payment method and class.
g. Click Save & Close.
2. Record a Bill Credit for the refunded amount:
a. From the Vendors menu, select Enter Bills.
b. Select the Credit radio button to account for the return of goods.
c. Enter the Vendor name.
d. Click the Expenses Tab and enter the Accounts on the original Bill.
e. In the Amount column, enter the appropriate amount for each Account (the amounts may have to be prorated).
f. Click Save and Close.
3. Link the deposit to the Bill Credit:
a. From the Vendors menu, select Pay Bills.
b. Check the Deposit that matches the Vendor check amount.
c. Select Set Credits and apply the Bill Credit you created earlier then click Done.
d. Click Pay Selected Bills > Done.
Solved
Best answer 05-21-2019

Accepted Solutions
QuickBooks Team

Re: A vendor payment made through my bank is returned to the bank. How do I record in QB?

Hello there, Lisa-S.

 

I'd be glad to help check why deposit and credit is not showing up on the Pay Bills window.

 

One possible reason why the deposit and credit are not showing up on the Pay Bills window is that it wasn't recorded correctly. Please ensure to record your transactions correctly using the correct account/bank.

 

I've attached screenshots for additional reference.

When recording a deposit (refund from the vendor).j3 deposit1.PNG

Recording a bill credit.j3 bill credit2.PNG

Linking the deposit to the bill credit.j3 linking the deposit to the bill3.PNG

j3 select the credits 4.PNG

j3 pay bills 5.PNG

j3 done 5.PNG

 

For further details, you may check this article: Record a vendor refund in QuickBooks Desktop.

 

You may also check our help articles for your future reference: Help articles for QuickBooks Desktop.

 

Please keep posted if you have any other questions, I'll be always here to help you. Have a great day ahead!

View solution in original post

3 Comments
QuickBooks Team

Re: A vendor payment made through my bank is returned to the bank. How do I record in QB?

Hello there, Lisa-S.

 

I'd be glad to help check why deposit and credit is not showing up on the Pay Bills window.

 

One possible reason why the deposit and credit are not showing up on the Pay Bills window is that it wasn't recorded correctly. Please ensure to record your transactions correctly using the correct account/bank.

 

I've attached screenshots for additional reference.

When recording a deposit (refund from the vendor).j3 deposit1.PNG

Recording a bill credit.j3 bill credit2.PNG

Linking the deposit to the bill credit.j3 linking the deposit to the bill3.PNG

j3 select the credits 4.PNG

j3 pay bills 5.PNG

j3 done 5.PNG

 

For further details, you may check this article: Record a vendor refund in QuickBooks Desktop.

 

You may also check our help articles for your future reference: Help articles for QuickBooks Desktop.

 

Please keep posted if you have any other questions, I'll be always here to help you. Have a great day ahead!

View solution in original post

Level 2

Re: A vendor payment made through my bank is returned to the bank. How do I record in QB?

Hi Angelyn,

 

You were correct. I did not have the correct AP GL#. 

 

Thank you so much for your help!

 

Best regards, 

Lisa

QuickBooks Team

Re: A vendor payment made through my bank is returned to the bank. How do I record in QB?

Thank you for getting back, @Lisa-S.

 

It's my pleasure to know that you're now able to record your transactions correctly. Please stay posted if you have any other QuickBooks concerns in the future, I'm just a post away to help you.

 

In addition, you may also check our accounts receivable and payable workflows for your reference in the future: 

Have a great day ahead! :)

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