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I have paid a vendor twice for the same invoice. They have issued a refund. How to I record this properly?

 
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Best answer 12-10-2018

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Anonymous
Not applicable

I have paid a vendor twice for the same invoice. They have issued a refund. How to I record this properly?

Hello there andorra.condo,

I can help you properly record the vendor refund for your duplicate payment.

Did your vendor issued you a check for the refund? If so, you'll just need to record a deposit for the vendor check:

  1. Go to the Banking menu, then choose Make Deposits on the drop-down selection.
  2. If the Payments to Deposit window appears, just hit OK.
  3. In the From Account drop-down selection, select the appropriate Account Payable account.
  4. Enter the actual amount of the vendor check in the Amount column.
  5. It's optional to enter a memo, check number, payment method and class.
  6. Click Save and close when you're done.

Let me also share this Community Article for different situations for recording a vendor refund: https://community.intuit.com/articles/1501317

That'll do it. If you need further assistance or questions about recording vendor refunds, please let me know.

View solution in original post

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Anonymous
Not applicable

I have paid a vendor twice for the same invoice. They have issued a refund. How to I record this properly?

Hello there andorra.condo,

I can help you properly record the vendor refund for your duplicate payment.

Did your vendor issued you a check for the refund? If so, you'll just need to record a deposit for the vendor check:

  1. Go to the Banking menu, then choose Make Deposits on the drop-down selection.
  2. If the Payments to Deposit window appears, just hit OK.
  3. In the From Account drop-down selection, select the appropriate Account Payable account.
  4. Enter the actual amount of the vendor check in the Amount column.
  5. It's optional to enter a memo, check number, payment method and class.
  6. Click Save and close when you're done.

Let me also share this Community Article for different situations for recording a vendor refund: https://community.intuit.com/articles/1501317

That'll do it. If you need further assistance or questions about recording vendor refunds, please let me know.

View solution in original post

Highlighted
Level 1

I have paid a vendor twice for the same invoice. They have issued a refund. How to I record this properly?

Thanks, I had done this except instead of selecting "Accounts Payable" I was using the original account. So now it is fixed and no longer annoying me. Thanks a lot.
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Anonymous
Not applicable

I have paid a vendor twice for the same invoice. They have issued a refund. How to I record this properly?

That's awesome @andorra.condo. Well if you need anything else, feel free to post again in the Community. We're always here to help.

Happy Holiday and enjoy your weekend. :smile:
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Level 1

I have paid a vendor twice for the same invoice. They have issued a refund. How to I record this properly?

Good Afternoon,

 

I have followed all of the instructions and I believe I have also been sucessful in the past.  However, now I am getting an error message pop up that states " You cannot use more than one A/P or A/R account in the same transaction."  

 

There are two vendor refunds as well as the rest of my deposit for today in this transaction.  The checks have also been deposited in the bank account.  

 

I am not sure what I am doing wrong. 

 

Leanne 

Bruce Industrial Company, Inc

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Anonymous
Not applicable

I have paid a vendor twice for the same invoice. They have issued a refund. How to I record this properly?

Thank you for joining the discussion, @bruceindustrial295.

 

Allow me to step in and help deposit your two vendor refunds successfully in QuickBooks.

 

In QuickBooks, you cannot record a transaction that contains two A/P accounts. Saving these transactions will result in the message Warning: You cannot use more than one A/R or A/P account in the same transaction.

 

Let's fix this by setting up a clearing account so you can move money from one account to another account. 

 

Here's how to create a clearing account:

 

  1. From the Lists menu, select Chart of Accounts.
  2. Right-click anywhere in the Chart of Accounts, then select New.
  3. In the Add New Account window, select the Bank radio button.
  4. Select Continue.
  5. In the Account Name field, enter Clearing Account, Barter Account or Wash Account.
  6. Do NOT enter an opening balance.
  7. Click Save & Close.

 

Once done, let's make a deposit again for the vendors' refunds. This time, instead of selecting the A/P account, let's use the clearing account. This will transfer the amounts on the clearing account.

 

 

Then, make a deposit again and select the clearing account for the Deposit To field and A/P account on the From Account column. You'll need to enter the individual vendor for this transaction. 

 

 

That should do it. You can also check out this helpful article about clearing account just in case you need it for future use: Common uses for a clearing account.

 

Keep me posted if you need anything else. I'll be here to help if you have additional questions about the clearing account process. Have a good one.

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