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Re: Vendor reimbursed us with a check how do i post said check?

Hello mavenoffice1,

 

Enter a vendor credit, deposit the refund check, and link the deposit to the bill. These are the right things to do to keep your expenses accurate. I'll guide you on how to record these transactions in your QuickBooks Online. 

 

Step 1: Enter a vendor credit

  1. Click on the Plus icon and select Vendor Credit.
  2. In the Vendor drop-down menu, choose a vendor.
  3. Choose the Category details or Item details. This is the account, product, or service you’re getting a credit for.
  4. Click on Save and close

Step 2: Deposit the money you got from the refund

  1. Click on the Plus icon and select Bank Deposit.
  2. In the Account drop-down menu, select the account where you got the refund.
  3. In the Add funds to this deposit section, fill out the following fields:
    • Received from: Select the vendor who gave the refund.
    • Account: Select Accounts Payable so it can be tied up to the vendor credit. 
    • Payment method: Enter the method the vendor used to refund you.
    • Amount: Enter the amount of the refund.
  4. Click on Save and close.

Step 3: Use Pay Bills to connect the bank deposit to the vendor credit

  1. Click on the Plus icon and select Pay Bills.
  2. Select the bank deposit you just created. You’ll see the amount of the vendor credit in the Credit Applied field. The Total payment should be $0.00.
  3. Click on Save and close.

When the bank downloads the vendor refund check in the Banking page, go ahead and match it with the deposit.

 

You can always check on us if you need more help. Have a great day!