Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Hello! I followed these instructions exactly as listed below, but the problem is my $25 refund from a vendor (shown as -$25 in the vendor balance section) now shows -$50 after the deposit is created. Then after I "Link" them with a check/bill pay, the vendor balance remains -$50 when it's suppose to be $0 balance for the vendor. Please help.
See attachment if that helps.
"
Once a deposit is entered, you'll see a positive balance in your vendor's information page. To zero it out, you'll need to link the deposit to a vendor credit. Here's how:
Hi there, CarsMetrics.
A vendor Credit is used to either record returns to vendors or simply these are refunds from vendors. It seems that there are certain steps that have been missed or certain amounts were incorrectly applied to that's why it is doubling the refund.
First, let's make sure to create a Vendor Credit to post it on the expense account you used for this vendor. Then, deposit the money you got from the refund using a Bank Deposit. Lastly, use the Pay Bills option to connect the bank deposit to the Vendor Credit.
You can review this article for the detailed steps: Enter A Refund From A Vendor.
Then, you can go to your vendor profile to check for the balance.
For reference, you'll want to run reports in QuickBooks Online to show the aspects of your business. Here's an article for your guide: Run Reports In QuickBooks Online.
That's it. Feel free to let me know if you need anything else. I'll always make sure to get back to you.
Thank you for getting back to us here on the Community page, @CarsMetrics.
The screenshots you've added are not visible here on my end. There seems an issue with the files you're adding that the Community server blocked it from presenting here in public. At this time, you can try adding through a private browser to narrow the cause of this unusual experience. Sometimes, the regular browser tends to hold onto information, and over time it could cause problems while working with QuickBooks.
To save you time, use either of these keyboard shortcuts:
To attach your files, click on the camera icon, then choose the images you want to attach.
Once done, I recommend clearing your original browser's cache to start fresh.
If there's anything you need assistance with, let me know by adding a comment below. I'm a few clicks away to help. Happy weekend!
See if this works
Thanks for getting back to us and providing the screenshots, CarsMetrics.
I want to make sure this is taken care of, so you can get back into the business.
We'll have to recreate the Expense transaction into a Bill so the steps will work when linking it to the Vendor Credit. This will zero out your vendor balance. For more information, check our enter a credit from a vendor for your guide.
Keep me posted on how it goes. I'm always here if you need more help with the process.
I clicked the article and this one applies to me:
"If you enter expenses or write checks
To track credits for your vendors, you should consider entering bills in QuickBooks. This way you can track your account balance and credits using Accounts Payable. Otherwise, you can enter a note to remind yourself about this credit in the future."
Can you only receive credits from vendors (without showing a negative balance) on outstanding bills? There's no way for a vendor to give you a "refund" without the account showing negative?
I clicked the article and this one applies to me:
"If you enter expenses or write checks
To track credits for your vendors, you should consider entering bills in QuickBooks. This way you can track your account balance and credits using Accounts Payable. Otherwise, you can enter a note to remind yourself about this credit in the future."
Can you only receive credits from vendors (without showing a negative balance) on outstanding bills? There's no way for a vendor to give you a "refund" without the account showing negative?
Thanks for coming back, CarsMetrics.
I've read your first post, and thanks for following the steps you've seen in the Community. Creating a Bank Deposit using Accounts Payable (A/P) and tagging the vendor's name is correct to show that the refund came from them. However, you're right that this will result in a credit in their profile. To offset it, you'll also need to create a Vendor Credit and use the same item when you recorded your purchase.
Now, your vendor balance is correct but you have open Bank Deposits and Vendor Credit on your vendor's profile. Therefore, you'll close them by creating an Expense or a Check transaction. To learn more about processing vendor's refund, refer to this article: Enter A Refund From A Vendor.
I have a link here that provides you with articles about managing your vendor transactions: Enter expenses, pay bills, and write checks.
Keep me posted if you need a hand with running your financial reports or any QuickBooks Online related. I'm always here to help. Take care always.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here