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dimo_60
June 13, 2023
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If a supplier asks for a deposit then submits a bill for the work which is less than the deposit, then refunds us through the bank what are the entries in QB?

  • June 13, 2023
  • 1 reply
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Our supplier asked for a deposit of £300 upfront.  They submitted a bill for less than that and refunded us the balance direct to the bank.  How do I show this in QB?
Best answer by paul72

Hi @dimo_60 

 

The simplest way to do this is to enter out of sequence.

   Enter the Bill.

   Enter the Refund as a Bank Deposit (against the Supplier Name, use Accounts Payable & NoVAT code) - this will show on the Supplier Register as a Credit.

   Enter the deposit as a Bill Payment & clear off the Bill & Refund (which will be there as a Credit).

 

Hope this helps.

1 reply

paul72
paul72Answer
June 13, 2023

Hi @dimo_60 

 

The simplest way to do this is to enter out of sequence.

   Enter the Bill.

   Enter the Refund as a Bank Deposit (against the Supplier Name, use Accounts Payable & NoVAT code) - this will show on the Supplier Register as a Credit.

   Enter the deposit as a Bill Payment & clear off the Bill & Refund (which will be there as a Credit).

 

Hope this helps.

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