If an insurance bill is paid in full in August but insurance cancelled in Dec. how do I deposit this rebated cheque in QB?

Hello stratfordarea02,

Thanks for joining us! It's great to have you as a part of the QuickBooks family and I'd be delighted to assist with this. I have a few options for you, but you can choose which works best for your situation.

The first option I have for you is to record the rebate using QuickBooks Online's Bank Deposit feature. Accessed through the +New icon, this feature allows you to choose an account the deposit is going to, where the funds are coming from, and other important details such as that. You'll notice that the options here don't include credit card accounts, so I have another suggestion for that which I'll go over next. To learn more about Bank Deposit, check out this article: Record and make Bank Deposits in QuickBooks Online

Although you're wording makes it sound like the insurance company sent you a physical cheque, if by chance they returned funds to your credit card account, you can use the feature called Credit Card Credit. This is also created through the +New icon and acts as a return or refund against your credit card.

Finally, you can consider recording a supplier refund. This one has a few extra steps, but is also an effective way of recording refunds or money you receive back from your suppliers. This article outlines the necessary steps: Enter a refund from a supplier

If you're not certain which option is best for your books, I recommend touching base with an accountant. An accountant user can easily be added to your books if you'd like to give them access to your files. Simply click the My Accountant tab in the left menu of QuickBooks Online, then enter their email in the available field to invite them as a user. If you need to find an accountant, that tab also has a Find a Pro to Help button, leading to a feature where you can enter your postal code to find an accountant in your area.

I'm here if you need clarification! Have a great day. :)