Glad to have you here in the Community, @gregg-fisher-rem.
I'm here to help record a returned ACH payment in QuickBooks Online (QBO) so you can get back to working order.
First off, you'll need to create a clearing expense account so you can use it as the source account for the deposit. Here's how:
- Sign in to your QBO account.
- Click the Gear icon, then select Chart of Accounts.
- Select New.
- From the Account Type drop-down, select Expenses.
- Name the account as Clearing Expense Account.
- Click Save and Close.
Once done, you can now create a deposit for the amount of the returned ACH payment and use the clearing expense account.
Then, create a new check and bill payment to the vendor and use that clearing expense account as the expense (reason) for the check. The clearing expense account will be zero, the bill remains paid as of the original date and especially important if inventory is involved.
When you're ready to reconcile your account, you'll need to check off the deposit against the old bill ACH payment. This way, you won't have any discrepancies when reconciling accounts.
Please know that the Community forum is always open to help you again if you need more help with this. The Community team and I are always here to assist.
