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There was a class action lawsuit associated with collusion between parts manufacturers.
We were unaware of this situation but apparently we purchased these parts at some point in the 8 years identified by the lawsuit.
We've received two checks in the mail and I need to know how to show the monies coming into our business.
We're using QB Online and I've only seen details on how to do this through Desktop.
Just to confirm, there is no particular vendor associated with this situation - in fact, the check is sent from an account that we have never and will never have any future association with : "XXXX Settlement Fund"
How do I record this money coming in? There is no bill from a past situation to springboard off of.
Solved! Go to Solution.
Thank you for sharing your detailed concern here, @Soundscu.
Let's make sure you'll be able to manage recording this refund.
We can enter this into your account as a bank deposit. Although, I would still suggest working with your accountant for the best guidance when choosing an account.
Here's how to record a bank deposit:
That's all there is to. You can also reconcile your account to make sure they match your bank statement.
I'm always here if you need further assistance in recording this refund. Let me know by leaving a comment below. Have a wonderful day!
Thank you for sharing your detailed concern here, @Soundscu.
Let's make sure you'll be able to manage recording this refund.
We can enter this into your account as a bank deposit. Although, I would still suggest working with your accountant for the best guidance when choosing an account.
Here's how to record a bank deposit:
That's all there is to. You can also reconcile your account to make sure they match your bank statement.
I'm always here if you need further assistance in recording this refund. Let me know by leaving a comment below. Have a wonderful day!
Ah, thank you.
I had looked at that area (at the bottom of the page) but only saw customers so was confused. Was able to type in the new "vendor".
Appreciate your assistance!
Hey there, @Soundscu. Thanks for coming back.
I'm glad that the steps shared by my colleague were able to help you in recording a refund check in QuickBooks.
In case you have any other concerns in mind, please don't hesitate to leave a reply and we'll help you out. Have a great rest of the day!
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