Hello there, travelqueen.
I can walk you through handling your customer and vendor transaction workflow. In receiving customer payments from an invoice, you can record a Receive Payment option. Let me show you how:
- Click the + New button and click Receive Payment.
- When you select the customer's name, a list of outstanding invoices will display.
- Select the bank account where to deposit the payment first and then click the invoice.
- Review the amount and then Save and close.
When paying your vendors the difference between the payment and fees, you can use a check or expense. Once done, you can transfer the fees from the trust account to the operating account.
Recording a bank deposit can be an option in refunding the client which can be used as a credit to the customer's next invoice. Here's how to do that:
- Go to the +New menu and click Bank deposit.
- From the Account drop-down, choose the account you want to put the money into.
- Under the Add funds to this deposit section, select the customer's name.
- Select Accounts Receivable in the ACCOUNT field.
- Enter the refund amount and then Save and close.
When you create a receive payment option to the customer's invoice, you'll see a credits section. You mentioned that you'll want to keep the refund for the client's non-refundable payments, you'll want to use a bank deposit still and an income account instead of Accounts Receivable. For reimbursements, you can use a refund receipt.
I'd still highly suggest reaching out to an accountant for more options on how to categorize these payments that are fit for your business preference.
You can always mention me in your reply if there's anything else that you need help with. Take care and have a great day!
