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ussmex
April 6, 2020
Solved

Recording a Freight Claim

  • April 6, 2020
  • 2 replies
  • 0 views

Greetings,

 

Every once in a while a freight company, such as UPS Freight, damages one of the shipments that we send out.  We re-make the product, re-ship, then file a claim for the value of the that loss.  What steps should I take in QuickBooks Online to record the payment check they send us for reimbursement?

 

Thank you!

Best answer by ChristieAnn 11

Hi there, ussmex.

 

To record the payment check they sent you for reimbursement, I suggest entering this as Deposit in QuickBooks Online. And, to determine what account it should be posted, I recommend consulting an accountant to help you assist categorizing the reimbursement.

 

Here's how:

 

  1. Click the Plus icon.
  2. Select Bank Deposit.
  3. Choose the appropriate account you want to deposit the money into.
  4. In the Received from, select the vendor who gave you the reimbursement.
  5. From the Account drop-down list, choose the correct account.
  6. From the Payment method, enter the method your vendor used to reimburse you.
  7. Enter the amount you received.
  8. Hit Save and close.

 

For additional information. you can check this article: Enter a refund from a vendor. This article also contains details on how to record the refund depends on how you record your purchases.

 

Please refer to this article on how to run a report that reflects all payments made to vendors: Run a report with vendor totals.

 

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.

2 replies

C
ChristieAnn 11Answer
April 6, 2020

Hi there, ussmex.

 

To record the payment check they sent you for reimbursement, I suggest entering this as Deposit in QuickBooks Online. And, to determine what account it should be posted, I recommend consulting an accountant to help you assist categorizing the reimbursement.

 

Here's how:

 

  1. Click the Plus icon.
  2. Select Bank Deposit.
  3. Choose the appropriate account you want to deposit the money into.
  4. In the Received from, select the vendor who gave you the reimbursement.
  5. From the Account drop-down list, choose the correct account.
  6. From the Payment method, enter the method your vendor used to reimburse you.
  7. Enter the amount you received.
  8. Hit Save and close.

 

For additional information. you can check this article: Enter a refund from a vendor. This article also contains details on how to record the refund depends on how you record your purchases.

 

Please refer to this article on how to run a report that reflects all payments made to vendors: Run a report with vendor totals.

 

Please know that you're always welcome to post if you have any other concerns. Wishing you and your business continued success.

    Rustler
    Rustler
    April 6, 2020

    Use make deposits and select the other income account as the source account for the deposit

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