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Frequent Explorer **

reimbursement from vendor

We had a vendor attend a trade show. We covered the travel costs, and they reimbursed us for a partial amount. 

 

I applied it this way:

 

Created a deposit under that vendor under the "accounts payable" chart of accts, then created a vendor credit to link the deposit to.

 

Is this correct ? How do we detect that it is a reimbursement for travel costs, besides putting notes?

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Best answer 04-18-2019

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Established Community Backer ***

Re: reimbursement from vendor


@krucki wrote:

We had a vendor attend a trade show. We covered the travel costs, and they reimbursed us for a partial amount. 

 

I applied it this way:

 

Created a deposit under that vendor under the "accounts payable" chart of accts, then created a vendor credit to link the deposit to.

 

Is this correct ? How do we detect that it is a reimbursement for travel costs, besides putting notes?


This has nothing to do with AP.   I would just categorize the deposit to the same expense account  used when the travels costs were paid

View solution in original post

6 Comments
QuickBooks Team

Re: reimbursement from vendor

We can create a check instead of a deposit, krucki. 

 

When you create a Check you can link it to the Accounts Payable A/P account. That way, it will remain as a "credit" or an unapplied payment to your vendor. Every time you create an expense transaction to that vendor, you can link the unapplied credit. 

 

Also, the DESCRIPTION or Memo is the only option you can use to identify this transaction. 

 

I'll be here to help you if you have additional questions. Have a good one!

 

Established Community Backer ***

Re: reimbursement from vendor


@krucki wrote:

We had a vendor attend a trade show. We covered the travel costs, and they reimbursed us for a partial amount. 

 

I applied it this way:

 

Created a deposit under that vendor under the "accounts payable" chart of accts, then created a vendor credit to link the deposit to.

 

Is this correct ? How do we detect that it is a reimbursement for travel costs, besides putting notes?


This has nothing to do with AP.   I would just categorize the deposit to the same expense account  used when the travels costs were paid

View solution in original post

Established Community Backer ***

Re: reimbursement from vendor


@Catherine_B wrote:

We can create a check instead of a deposit, krucki. 

 


Ridiculous

Frequent Explorer **

Re: reimbursement from vendor

That is what I did originally, but then it doesn't show up under the vendor. 

QuickBooks Team

Re: reimbursement from vendor

Hi there, @krucki.

 

Allow me to step in and help provide some additional information on how to record the reimbursement from vendor. 

 

Our Established Community Backer provided you the exact information. You can process bank deposit and categorize it to expense account for the travel costs paid. You can pull up the Transaction List by Vendor report this will show the bank deposit you've entered for vendor payments.

 

Here's how to pull up the report: 

  1. In the left tab menu, select Reports.
  2. Type-in Transaction List by Vendor on the search tab.
  3. Change the date range. 

For additional reference, you can check this article on how to customize reports

 

If you need further assistance with the steps, I suggesting to contact our QuickBooks Online Support Team. They have the tools to pull up your account and do a remote session. 

 

Here's how you can contact our customer support:

  1. Sign in to your QuickBooks Online company.
  2. Select Help (question mark icon) at the top right.
  3. Select Contact us to connect with a live support agent.

That should do it! Don't hesitate to leave a comment below if you have additional concerns about the reimbursement from vendor. I'm always here to help. 

Established Community Backer ***

Re: reimbursement from vendor


@krucki wrote:

That is what I did originally, but then it doesn't show up under the vendor. 


Not sure why but if you want to see it in the vendor page, you can create a Vendor Credit to the vendor for his share of the travel expense, post it to to the same expense account  used when the travels costs were paid and then leave the Deposit as AP (as in fact you did).  Then you will have to apply the Deposit to the V/Credit, with a zero Bill Payment

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