credit (refund checks) from vendor for parts returned
Hello,
We purchase parts to fix vehicles. And we are COD with vendors, our choice. So we return parts back to the vendor that we already paid for, for whatever reason. So most vendors will mail us a check for the refund after the return is processed. So my question is, how do I record the deposit in QBO? I deposit the refund checks with checks that I receive from our customers for payment of their invoices.
Right now, I match all the customer payments that are in the deposit, then I have a balance left over in the deposit to take are of which is the check(s) from our vendors for parts returned. QBO customer service told me when I am done matching the customer payments in the deposit and there is a balance left to clear up in the deposit which is the refund checks from the vendors for returned parts; to click the resolve towards the bottom and that will open up lines to add transactions and I record the each check from the vendors there and that will clear the deposit left over balance.
I wanted to make sure that is the correct way.
Thank you.