I appreciate your attention to detail in maintaining accurate financial records, bleonhard. I can help you record the overpayment refund for fuel tax in QuickBooks Online.
To efficiently record this transaction, please follow these steps:
- Ensure you have previously created the initial expense or check in QBO and assigned a Category/Account.
- Go to + New and select Bank Deposit.
- Choose the bank account where you deposited the refund check.
- In the Date section, enter the date you received or deposited the check.
- Under Received From, enter the name of the entity that issued the refund.
- Fill in the necessary details as required.
- In Add funds to this deposit section, enter the refunded amount and select the same Category/Account that you assigned to the initial expense or check.
- Click Save and close.
For more detailed information, refer to this article: Enter vendor credits and refunds in QuickBooks Online.
Furthermore, if you're considering issuing credit memos to your customers, you can check this article: Create and apply credit memos or delayed credits in QuickBooks Online.
If you encounter any hurdles while following these steps or have more questions about recording your overpayment, please don't hesitate to ask. We're here to help ensure you feel confident managing your business finances.
