Accounting Talk Accounting Talk    FAQ   Search   Memberlist   Usergroups   Register   Profile   Log in to check your private messages   Log in  Entering a vendor refund          Accounting Talk Forum Index -> Quickbooks View previous topic :: View next topic   Author Message PT Guest Posted: Thu May 29, 2008 6:09 am    Post subject: Entering a vendor refund QB 2008 Pro Originally I entered and paid a vendor bill by check. Subsequently, the vendor notified me that one of the owners of the business had also paid the same bill, so the vendor was including a check for the same amount. I tried a couple of ways to enter the refund check. 1. First I entered the credit on a bill. But that simply zeros out the payable, and doesn't increase cash 2. If I just enter it as a cash sale, the amount ends up in a customer file. But I'd like the amount to end up as a credit attached to the vendor file in the Vendor Center.and a cash receipt so I can then record the deposit using Banking | Make Deposits and thus increase the checking account balance. Suggestions? -- PT Back to top   Ads Advertising Sponsor Golden California Girls Guest Posted: Thu May 29, 2008 9:53 am    Post subject: Re: Entering a vendor refund PT wrote: Quote: QB 2008 Pro Originally I entered and paid a vendor bill by check. Subsequently, the vendor notified me that one of the owners of the business had also paid the same bill, so the vendor was including a check for the same amount. I tried a couple of ways to enter the refund check. 1. First I entered the credit on a bill. But that simply zeros out the payable, and doesn't increase cash 2. If I just enter it as a cash sale, the amount ends up in a customer file. But I'd like the amount to end up as a credit attached to the vendor file in the Vendor Center.and a cash receipt so I can then record the deposit using Banking | Make Deposits and thus increase the checking account balance. Suggestions? The credit in the vendor file ended when they sent you the check. You can't double book it. If you meant you wanted to create a credit from the vendor and then apply the check to that credit, that can be done. Check the help file, it is explained well there. Back to top   Ads Advertising Sponsor Haskel LaPort Guest Posted: Thu May 29, 2008 5:12 pm    Post subject: Re: Entering a vendor refund "PT" <xyz@xyz.com> wrote in message news:g1kvog$i30$1@nwnexus-news.nwnexus.com... Quote: QB 2008 Pro Originally I entered and paid a vendor bill by check. Subsequently, the vendor notified me that one of the owners of the business had also paid the same bill, so the vendor was including a check for the same amount. I tried a couple of ways to enter the refund check. 1. First I entered the credit on a bill. But that simply zeros out the payable, and doesn't increase cash 2. If I just enter it as a cash sale, the amount ends up in a customer file. But I'd like the amount to end up as a credit attached to the vendor file in the Vendor Center.and a cash receipt so I can then record the deposit using Banking | Make Deposits and thus increase the checking account balance. Suggestions? How did one of the owners pay? Was it with a business check or from their personal funds? Quote: -- PT Back to top   Ads Advertising Sponsor L Guest Posted: Thu May 29, 2008 11:59 pm    Post subject: Re: Entering a vendor refund "PT" <xyz@xyz.com> wrote in message news:g1kvog$i30$1@nwnexus-news.nwnexus.com... Quote: QB 2008 Pro Originally I entered and paid a vendor bill by check. Subsequently, the vendor notified me that one of the owners of the business had also paid the same bill, so the vendor was including a check for the same amount. I tried a couple of ways to enter the refund check. 1. First I entered the credit on a bill. But that simply zeros out the payable, and doesn't increase cash 2. If I just enter it as a cash sale, the amount ends up in a customer file. But I'd like the amount to end up as a credit attached to the vendor file in the Vendor Center.and a cash receipt so I can then record the deposit using Banking | Make Deposits and thus increase the checking account balance. Suggestions? Enter the duplicate payment to the vendor. (Edit the check the owner wrote to the vendor. Have as the account "accounts payable". This will create a credit for the amount of the check in the vendor account). If the owner did not pay with a business check, you can still enter the credit using the 'enter bills' screen. Tick the box that says 'credit'. For account, use whatever is appropriate for your tax structure to indicate the money came from the owner's personal account. Use the Make Deposit screen to deposit the vendor check. Enter the vendor name in the "Received from" and have as the account "accounts payable". This will create a 'bill' you will see in the bill payment screen. Select the 'bill' and pay it with the available credit. Back to top   Ads Advertising Sponsor Display posts from previous: All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First         Accounting Talk Forum Index -> Quickbooks All times are GMT Page 1 of 1   Jump to: Select a forum Accounting Talk----------------Accounting TalkPeachtreeQuickbooksQuicken  You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum 68 Attacks blocked Powered by phpBB © 2001, 2005 phpBB Group