cancel
Showing results for 
Search instead for 
Did you mean: 
BlueZoneBookkeeper
Level 1

How do I enter an ACH rebate check?

What account should I use as the from account when entering an ACH rebate deposit?

6 Comments 6
gayatriluthfias20
Level 7

How do I enter an ACH rebate check?

Hi @BlueZoneBookkeeper , 

you're concern about handling your ACH refund.

First off, let's enter a vendor credit to make sure it will hit the expense account you use for this vendor. Then, let's deposit the money you got from a refund. Here's how: 

 

  1. Click the + New tab from the left menu. 
  2. Choose Vendor Credit.
  3. In the Vendor drop-down menu, select a vendor.
  4. Enter the Category details or Item details as to how you record purchases with this vendor. 
  5. Click Save and close.

(If you had recorded the expense, just go to record refund).

Once done, follow these steps below to deposit the refund:

 

  1. Click the + New tab from the left menu. 
  2. Choose the Bank Deposit.
  3. In the Account drop-down menu, pick the account where you got the refund.
  4. In the Add funds to this deposit section, fill out the following fields: 
  • Received from: Choose the vendor who gave you a refund.
  • Account: Select Accounts Payable. Pick the A/P account to link the refund to the vendor credit.
  • Payment method: Enter ACH. 
  • Amount: Enter the amount of your refund.

         5. Click Save and close.

 

To keep your vendor expenses accurate, use Pay Bills to connect the bank deposit to the vendor credit. Here's how: 

 

  1. Go to the + New tab from the left menu.
  2. Choose Pay Bills.
  3. Select the bank deposit you've just created. You’ll see the amount of the vendor credit in the Credit Applied field. The Total payment should be $0.00.
  4. Select Save and close.

 

Concerning to your reconciliation, you can remove the filter from the reconciliation window so you can choose which period you want the transaction to post. I'd suggest consulting with your accountant to make sure your books are correct. Comment back, cheers.

vpcontroller
Level 11

How do I enter an ACH rebate check?


@BlueZoneBookkeeper wrote:

What account should I use as the from account when entering an ACH rebate deposit?


@BlueZoneBookkeeper 

 

"Other Income" account type

kship
Level 2

How do I enter an ACH rebate check?

When I go to pay bills, the bank deposit does not show up?

 

 

kship
Level 2

How do I enter an ACH rebate check?

I followed steps 1 & 2 but when I tried to do step 3, the bank deposit does not show up?

 

Thanks

Kevin_C
QuickBooks Team

How do I enter an ACH rebate check?

Thanks for joining this thread, @kship.

 

I want to ensure I can provide a timely solution to your refund concerns. Thus, I have to ask for more details about your concern for me to come up with the best resolution for you.

 

May I know the workflow of how you recorded the transactions? It would also be great if you could include some screenshots so I could get a better view of it.

 

I'd appreciate any additional details you can provide. I’m looking forward to your reply. Have a great day.

kship
Level 2

How do I enter an ACH rebate check?

I was able to figure it out. On the bank deposit I had not selected Accounts Payable.

 

Thank you

Sign in for expert help
Ask questions, post replies & join our community of QuickBooks users.

Need to get in touch?

Contact us