Recording Deposits/Refunds to Project

Hi @jwilliss95,

Thank you for dropping by here in the Community. I can lend a hand with your concern about matching a deposit to a vendor credit in QuickBooks.

The ability to match a vendor credit to the downloaded transaction in the bank feed is unavailable. I recommend creating a Bank Deposit to record the credit in your account.

Here's how to create a deposit:

1. Click the New + icon.
2. Choose Bank Deposit. 
3. Under Add funds to this deposit, choose the vendor name in the Received from field.
4. Choose Accounts Payable in the Accounts field, then enter the credit/refund amount in the Amount field.
5. Select Save and close.

After that, you can now match the deposit to the bank transaction. Just make sure that the match is correct.

Here's how:

1. Find a downloaded transaction with the Match option in the Action column.
2. Note the Date, Description, Payee, and amount spent or received.
3. Select the downloaded transaction to expand the view.
4. Review the Matching records found in QuickBooks. This is the possible matching transaction you already entered in QuickBooks.
5. Select the link next to each match to get more details.
6. Make sure this is the correct match. In particular, review the Deposit to, Payment method, and Bank account fields on forms for the existing transaction in QuickBooks.
7. If this is the correct match, close the open transaction.
8. Select ​Match​.

For additional reference, I've attached a link you can visit to record a refund from a vendor: Enter a refund from a vendor.

Let me know if you have any other concerns with matching transactions in the Banking section. I'm always ready to help. Take care.

See screenshot here. When I follow your suggestion, it works and I am able to match the bank feed to my manual Deposit entry, but it shows the Project Name on the transaction list instead of the Vendor (who the deposit is from).

It’s nice to see you in the Community, jwilliss95.

QuickBooks will record the deposit to the account you selected. Once the customer pays online, make sure that the deposit recorded to the correct account. 

There you have it. In case you need to assign and categorize your downloaded banking transactions, you can visit our article to be guided in doing it: Assign, categorize, edit, and add your downloaded banking transactions.

For additional resources, the following guides provide an overview of the online banking processes in the program.

• Categorize and match online bank transactions
• Exclude a bank transaction you downloaded into QuickBooks Online
• Matching Transactions

Please know that the Community always has your back, so don't hesitate to let me know If I can be of any assistance. Feel comfortable to tag me in your comments.