Level 2

Supplier over payment (supplier credit) - refund on credit card

We made a purchase with one of our suppliers and they accidentally overcharged us $ 50.00 on our credit card. We recorded the bill payment with the over paid amount which created a credit of $ 50.00. Now the supplier returned the $ 50.00 to our credit card. If I enter a credit card credit it will not clear the balance of - $50.00 in my vendor account.  How do I balance this?

Thanks for advice!

Solved
QuickBooks Team

Other Questions

Hi there, 

 

You've reached the right place for help. It's important you're able to balance your transactions correctly. 

 

Any credit card credits on your account pay the card. You should be able to attach a vendor on the credit so that it hits the Accounts Payable account. In case you have further questions, don't hesitate to reach out to our support team using this link. One of our agents will be happy to take a look at your account and provide the support you need.  

Level 2

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Thanks, was just almost an hour with a customer assistant on the chat - with no help at all. Her suggestion was to just leave it as a credit and apply it to the next invoice LOL. 

But thank you anyway

Level 2

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ok found my own solution - too bad QBO staff can't help in cases like that!

 

So like stated before, we made a purchase, I entered the bill. The vendor accidentally over charged us $50 at time of payment with our credit card. This payment automatically created a credit with the vendor (unapplied credit). 

We now received the money back on the credit card.  

Create "credit card credit" - Item/Service is 'accounts payable".

If you go back to your vendor account -  you now have a balance owing.

Create cheque and add both transactions - transaction amount is $ 0.00

Vendor account is now balanced.

 

 

View solution in original post

Level 2

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I am having the same issue, how do I fix it?

 

My vendor charged my credit card with more than they were supposed to, now they have returned that extra amount on to my credit card however, after I register that as a credit card credit I still see an open balance for that vendor.

 

I'd like to hear back from QBO experts, please!!

QuickBooks Team

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Hi there. I want to make sure you get the support you need. I recommend contacting our support team using this link here. One of our agents will be able to share your screen and take a closer look at your account. Let me know if you have other questions by leaving a comment below.