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lorioutland
Level 1

Stop Payment Fee charged back to vendor

About a month ago I sent a payment to a vendor who banks out of state. She mailed the check to her bank but after a couple of weeks the bank still hadn't received it. She then called me to see if I would stop payment on the original check and issue a new one to her and said that she would pay the stop payment fee. We agreed that she would deduct that amount from the balance that I owe her. How do I account for that in QuickBooks Desktop?

Solved
Best answer May 02, 2020

Best Answers
Jovychris_A
QuickBooks Team

Stop Payment Fee charged back to vendor

Make sure to void the first payment. Then let's make a vendor credit to deduct the payables as for the fees and then reissue the payment.

 

Here's how to void a check:

  1. Go to the Vendors menu and then select the Vendor Center.
  2. Select the vendor's name.
  3. Double-click the payment.
  4. Click the drop-down button below the Delete icon and select Void.
  5. Then Save & Close.

Once done, create a vendor credit to deduct it to the bill as for the stop payment fees.

 

Here's how:

  1. Go to Vendors, and then Enter Bills.
  2. Choose the Credit radio button.
  3. Then select the name of the vendor who issued the credit from the drop-down.
  4. Enter the date you received the credit from the Date calendar selector.
  5. Enter any associated credit number into the Ref. No. field.
  6. Then enter the amount of the credit into the Credit Amount field.
  7. Then select the affected accounts or items on the Expenses or Items tabs at the bottom of the window.
  8. Finally, click the Save & Close button to save the credit for later use.

You can now reissue the payment.

 

Please let me know if you have more questions. I'll be around to help. Have a good one!

View solution in original post

1 Comment
Jovychris_A
QuickBooks Team

Stop Payment Fee charged back to vendor

Make sure to void the first payment. Then let's make a vendor credit to deduct the payables as for the fees and then reissue the payment.

 

Here's how to void a check:

  1. Go to the Vendors menu and then select the Vendor Center.
  2. Select the vendor's name.
  3. Double-click the payment.
  4. Click the drop-down button below the Delete icon and select Void.
  5. Then Save & Close.

Once done, create a vendor credit to deduct it to the bill as for the stop payment fees.

 

Here's how:

  1. Go to Vendors, and then Enter Bills.
  2. Choose the Credit radio button.
  3. Then select the name of the vendor who issued the credit from the drop-down.
  4. Enter the date you received the credit from the Date calendar selector.
  5. Enter any associated credit number into the Ref. No. field.
  6. Then enter the amount of the credit into the Credit Amount field.
  7. Then select the affected accounts or items on the Expenses or Items tabs at the bottom of the window.
  8. Finally, click the Save & Close button to save the credit for later use.

You can now reissue the payment.

 

Please let me know if you have more questions. I'll be around to help. Have a good one!

View solution in original post

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