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DanielleLauraye
Mar 12, 2019 1:16 AM UTC
Question

How do I apply a refund for a bill that was overpaid?

Hi, I have a question recently I sent an amount of money to a vendor, and overpaid them because I received the bill later on. So I overpaid the bill by $22.39. So there is a credit now sitting on the vendors account that says  a negative balance of  minus 22.39 on the vendors account. In other words they owed me that amount of 22.39 back..SO I recieved a cheque from them later for the refund. How do I apply that amount in quickbooks?

5 replies

NEVER
Mar 12, 2019 1:16 AM UTC
Use the Record Deposit function to deposit the cheque to your bank account: In the Received From column, enter the Vendor Name; In the From account, enter Accounts Payable. Complete the rest of the details and Save the deposit.
Open the Pay Bills window and checkmark the Vendor you received the refund cheque from. You will see a Credit Available for the amount of the Refund Cheque. Click on Set Credits to apply .
    Lynbull
    Nov 25, 2019 5:21 PM UTC

    Thank you for the useful information

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