Question

I entered a garage bill as a credit last week. I have now recd part payment from an insurance company. How do I enter please?

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QuickBooks Online

Rustler

A garage bill would be an expense

then you deposit the insurance check and use the same expense account as the source account for the deposit

the deposit will offset (lower) the total amount of the expense

T

TaliaI

Hello info414,

To confirm, you have entered the garage bill as money coming in, or as a supplier credit?

Thanks,

Talia

I

info414Author

I entered the garage bill as an expense as we have paid it.

The Insurance Company have now paid us a part cheque towards the bill and I need to know how to enter this credit.

Rustler

you receive payment, so deposit it and use the same expense account as the source account for the deposit - that will result in a credit to the expense account lowering the total amount of expense

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