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Subject Author Date
Entering a vendor refund PT 05-28-2008
Posted by PT on May 28, 2008, 9:09 pm
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 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



Posted by Golden California Girls on May 29, 2008, 12:53 am
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 PT wrote:
> 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.

Posted by Haskel LaPort on May 29, 2008, 8:12 am
Please log in for more thread options
> 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?



>
> --
>
> PT
>



Posted by L on May 29, 2008, 2:59 pm
Please log in for more thread options
> 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.



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