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sabinefriesen
December 12, 2019
Solved

Supplier over payment (supplier credit) - refund on credit card

  • December 12, 2019
  • 2 replies
  • 0 views

We made a purchase with one of our suppliers and they accidentally overcharged us $ 50.00 on our credit card. We recorded the bill payment with the over paid amount which created a credit of $ 50.00. Now the supplier returned the $ 50.00 to our credit card. If I enter a credit card credit it will not clear the balance of - $50.00 in my vendor account.  How do I balance this?

Thanks for advice!

Best answer by sabinefriesen

ok found my own solution - too bad QBO staff can't help in cases like that!

 

So like stated before, we made a purchase, I entered the bill. The vendor accidentally over charged us $50 at time of payment with our credit card. This payment automatically created a credit with the vendor (unapplied credit). 

We now received the money back on the credit card.  

Create "credit card credit" - Item/Service is 'accounts payable".

If you go back to your vendor account -  you now have a balance owing.

Create cheque and add both transactions - transaction amount is $ 0.00

Vendor account is now balanced.

 

 

2 replies

J
JamesM
December 12, 2019

Hi there, 

 

You've reached the right place for help. It's important you're able to balance your transactions correctly. 

 

Any credit card credits on your account pay the card. You should be able to attach a vendor on the credit so that it hits the Accounts Payable account. In case you have further questions, don't hesitate to reach out to our support team using this link. One of our agents will be happy to take a look at your account and provide the support you need.  

S
sabinefriesenAuthor
December 13, 2019

Thanks, was just almost an hour with a customer assistant on the chat - with no help at all. Her suggestion was to just leave it as a credit and apply it to the next invoice LOL. 

But thank you anyway

S
sabinefriesenAuthorAnswer
December 13, 2019

ok found my own solution - too bad QBO staff can't help in cases like that!

 

So like stated before, we made a purchase, I entered the bill. The vendor accidentally over charged us $50 at time of payment with our credit card. This payment automatically created a credit with the vendor (unapplied credit). 

We now received the money back on the credit card.  

Create "credit card credit" - Item/Service is 'accounts payable".

If you go back to your vendor account -  you now have a balance owing.

Create cheque and add both transactions - transaction amount is $ 0.00

Vendor account is now balanced.

 

 

    9
    9130347432439346
    September 7, 2022

    I am having a similar issue, however, the refund/credit went into our bank account (not credit card).  

     

    Here is what is happening: 

    We are invested in multiple partnerships/investments and when we setup the initial payment to the fund, it's obviously a supplier.  But when we receive a quarterly or monthly distribution from that supplier, I am unable to match to the bank deposit to either the JE or supplier credit (yes, frustratingly I know that QBO is way behind on connecting suppliers/customers which in my mind is the most inefficient function of the software).  

     

    Any suggestions? 

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