Welcome to the QuickBooks Community, be happy to share the steps on how you can record the refund check to clear out your vendor's credit.īefore we begin, I suggest creating a backup copy of your file first to ensure you have the original data you can restore anytime.įirst, record a Deposit of the vendor check: If you have other concerns about managing vendor transactions in QBDT, please feel free to comment below. If you wish to know more about them, I encourage you to check out this article: Customize vendor reports. To know more about recording refunds you received from a vendor, you can refer to this article: Record a vendor refund in QuickBooks Desktop.Īlso, QBDT offers a wide variety of ready-made vendor reports that tell you where your company stands, in terms of expenses and accounts payable. (Please see the sample screenshot below for your reference.) This time, I assure you the deposit will show up. Follow the third and last set of instructions above. Once done, go ahead and link the Deposit to the Bill Credit through the Pay Bills window. Change the expense account to Accounts Payable (A/P) under the From Account column.Locate the deposit and double-click it to pull up its details.Set the appropriate date in the Dates field.Select Banking, then choose Deposit Detail. You'll first have to locate the deposit by pulling up the Deposit Detail report and update the account from there. This way, you can proceed in linking the deposit to the bill credit and record the refund accordingly. With that being said, you'll have to change the Received from Vendor Account info to Accounts Payable (A/P). Then, the vendor's account shows double credit after entering the Bill Credit since it isn't yet linked to the deposit. You may have used an expense account when recording a deposit of the vendor check that's why the deposit didn't show up on the Pay Bills page. You're already on the right track, I've come to further guide you for recording the refund check to clear out your vendor's credit in QuickBooks Desktop (QBDT)īefore we start, I commend you for following the first two sets of instructions to record the refund check you've received from your vendor.
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