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andy_sa
February 6, 2021
Question

Contested charge credit

  • February 6, 2021
  • 1 reply
  • 0 views

I purchased software for my business.  The charge showed up on my Amex of $52.55.  However, I never received a receipt or electronic download instructions.  I opened a case with their Tech Support and they said they could not find my transaction.  I sent them snapshot of my Amex card showing the charge from them.  However, they still could not find my transaction on their part.  So I contested the charge with Amex.  After Amex's investigation, they refunded the $52.55.  In the reconciliation part of QBO there is a credit of $52.55.  When it happened, I created a vendor credit which is showing up in Accounts Payable Chart of Accounts.  

 

My question is how do I apply credit/chargeback to the Amex statement so my reconciliation zero's out ?  I am not really sure why the initial charge of $52.55 isn’t showing up.  Perhaps it's because the charge was contested and  thereby a charge never truly existed.  I don't know.  Thanks!!

1 reply

MariaSoledadG
MariaSoledadG
February 6, 2021

Let's make sure to properly link all your transactions to zero out your reconciliation, andy_sa.

 

Since you already entered a vendor credit, you'll have to create a Bank deposit to match your bank transaction. To do this, you can follow the steps below:

  1. Click + New, and click Bank Deposit.
  2. In the Add other funds to this deposit section, fill in the following fields:
         Received from: Select or enter the vendor name.
         Account: Select the Account payable account.
         Amount: Enter the amount.
  3. Click Save and Close.

To link the deposit to vendor credit:

  1. Click + New, and click Check.
  2. Select Choose a payee drop-down arrow, and click the vendor name.
  3. Provide the Check #, Date, Amount, and Memo fields blank.
  4. From the Add to Check section, select Add for the outstanding vendor credit and deposit.
  5. Click Save and Close.

This should zero out your reconciliation. For more information on how to reconcile an account, visit this article for more information: Reconcile an account in QuickBooks Online.

 

You can always touch base with us if you need further assistance with correcting your transactions. Please know the Community is here to help you. Have a great weekend!

A
andy_saAuthor
February 7, 2021

Thanks you so much for your reply.  I'll give it a shot!

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