I created a bill to pay a vendorThe vendor was paid with multiple bills totaling $1,200One of the bills that was created for the vendor was not their client in the amount of $400.The vendor cashed the entire check for $1,200 and sent $400 back for the bill that was paid in errorHow should the check for $400 be recorded?How should the $400 paid be credited so that it doesn't add to the vendor totals at the end of the year.

Welcome to the Community, @shawnnaking. I'll be happy to guide you on how to record the check for $400 in QuickBooks Desktop (QBDT) so that it doesn't reflect in the vendor totals at the end of the year. In QBDT, we can create general journal entries as a last resort for entering transactions. However, it's advisable to use this method only if you understand accounting principles or you're guided by advice from your accountant. If you're not associated with one, you can explore our ProAdvisor page to find a qualified professional. Here's how to create a journal entry.: Go to the Accountant menu and click Make General Journal Entries. On the first line, select an Expense account and enter the amount under the Debit column. Make sure to choose a different vendor for the Name. On the second line, choose a Bank account and enter the same amount under the Credit column. Make sure the debit and credit are balanced. Click Save & Close. Additionally, QBDT offers a wide variety of ready-made vendor reports that offer insights into your company's financial standing, encompassing expenses and accounts payable. Feel free to visit us in the Community whenever you need further help recording vendor refunds. I'm always available to lend a hand. Stay safe and have a great rest of the day!

S

shawnnaking

Question

Vendor Payables

Forum|Forum|2 years ago
August 28, 2023
1 reply
0 views

I created a bill to pay a vendor
The vendor was paid with multiple bills totaling $1,200
One of the bills that was created for the vendor was not their client in the amount of $400.
The vendor cashed the entire check for $1,200 and sent $400 back for the bill that was paid in error
How should the check for $400 be recorded?
How should the $400 paid be credited so that it doesn't add to the vendor totals at the end of the year.

QuickBooks Enterprise Suite

JaeAnnC

Welcome to the Community, @shawnnaking. I'll be happy to guide you on how to record the check for $400 in QuickBooks Desktop (QBDT) so that it doesn't reflect in the vendor totals at the end of the year.

In QBDT, we can create general journal entries as a last resort for entering transactions. However, it's advisable to use this method only if you understand accounting principles or you're guided by advice from your accountant. If you're not associated with one, you can explore our ProAdvisor page to find a qualified professional.

Here's how to create a journal entry.:

Go to the Accountant menu and click Make General Journal Entries.
On the first line, select an Expense account and enter the amount under the Debit column. Make sure to choose a different vendor for the Name.
On the second line, choose a Bank account and enter the same amount under the Credit column. Make sure the debit and credit are balanced.
Click Save & Close.

Additionally, QBDT offers a wide variety of ready-made vendor reports that offer insights into your company's financial standing, encompassing expenses and accounts payable.

Feel free to visit us in the Community whenever you need further help recording vendor refunds. I'm always available to lend a hand. Stay safe and have a great rest of the day!

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