It's great to assist you here in the Community, rigojr.
You can create a journal entry and a bill payment check to record the returned payment.
Firstly, you can enter a reversing journal entry. I'd be glad to show you how:
- Sign in to your QuickBooks Online (QBO) account.
- On the upper left corner, click the +New button.
- Select Journal Entry. Ensure that the Date, Entry No, and Vendor name are correct.
- Debit the checking account for the amount of the returned payment.
- Once done, click Save and Close.
Then, unlink the bill from the payment check and link it to the journal entry.
- Click Expenses from the left menu, then select Vendors.
- Locate the vendor you need, and open the original bill payment.
- From the Bill Payment screen, put a checkmark in the Journal Entry you've created.
- Uncheck the bill you originally paid.
Lastly, you'll have to create a new bill payment check to record the new payment section.
- On the upper left corner, click the +New button.
- Select Pay Bills.
- Choose the bill you originally paid.
- Complete all the required information.
- Once done, click Save and close.
You can also seek assistance from your accountant to ensure proper handling. If you don't have one, you can use our Find-an-Accountant tool to look for an expert near you.
Additionally, you can always check out this helpful resource for you to be able to browse useful information about your business and transactions: Run and customize reports in QuickBooks Online.
I'll be right here, willing to provide further assistance for any additional queries you may have when managing returned ACH payments. Feel free to let me know in the comments below. Assistance is just a few clicks away.
