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bluemarble41075
April 27, 2020
Question

I got vendor refund CHECK for credits issued. How do I record deposit of his check to offset credits I already entered? I DON'T USE BILL PAY.

  • April 27, 2020
  • 2 replies
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Original commenter did not share additional details

2 replies

C
Charies_M
April 27, 2020

It's nice to have you here today, bluemarble41075.

 

When you enter a vendor credit, it leaves an open balance to your account. This means that you need to link the credit to a transaction or future bills to offset the balance.

 

Otherwise, you'll need to delete the Vendor Credit and just simply create a Bank deposit to record deposit of your vendor's check.

 

First, let's locate the Vendor credit through the Advance Search feature.

 

  1. Click the  Magnifying Glass icon.
  2. Enter the date, amount, or transaction number you’re looking for, then select the desired transaction.
  3. If the transaction you're looking for does not appear on the results list, select Advanced Search.
  4. Adjust the filters to find the type of data you want.
  5. Locate the Vendor Credit.
  6. Scroll down and click More. Choose Delete. 

Here's how to record a Bank deposit:

 

  1. Go to the +New icon.
  2. Under Other, choose Bank deposit.
  3. Fill in the necessary information.
  4. Click Save and close.

Learn more about recording bank deposits through this article: How to Record Bank Deposits in QuickBooks Online.

 

Get back to me if you have other concerns. I'll be around to answer them all for you. Keep safe and have a good one!

D
Dr251
March 17, 2025

Can you list the steps to complete this task in Enterprise Desktop? I do not use the online QB.

M
Mark_AG
March 17, 2025

Hi there, @Dr251.

 

I can certainly provide you with the steps for the correct workflow of balancing the vendor credit. You'll only need to create a bank deposit from Accounts Payable account. 

 

If you've already entered a vendor credit, we'll proceed with recording the vendor refund check deposit. Here's a more detailed steps:

 

  1. On the top menu, hover over Banking and select Make Deposits.
  2. Close the Payments to Deposit window if you see it to proceed with the Make Deposits window.
  3. From the Deposit To field, choose the bank account where you deposited the vendor's refund check.
  4. Enter the date you deposited the check.
  5. From the Received From column, select the Vendor's name.
  6. From the FROM ACCOUNT column, select Accounts Payable. If the original credit was applied to a different expense account, then that account should be selected.
  7. Enter the amount of the deposit then click Save & Close.

 

By doing this steps, you'll be able to balance the vendor refund status after depositing the check from the Accounts Payable account to your bank account. You can refer to this article for more information about this process:  Record a vendor refund in QuickBooks Desktop.

 

Always remember to reconcile your account to ensure they match your bank statement and avoid discrepancies. It's important to review your accounts in QuickBooks to make sure they align with your actual bank especially when handling refunds. 

 

You can always leave a reply if you have additional concerns besides recording a vendor refund in QuickBooks Desktop. I'm always here to guide you with anything you need.

Rustler
Rustler
April 27, 2020

@bluemarble41075 

 

No do not delete the vendor credit, @Charies_M  is wrong

 

deposit the refund check and use accounts payable, vendor name as the source for the deposit

then open bill pay and pay the "bill" the deposit created with the credits, save

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