Supplier transactions

Question

Hello!I record a bill to a duplicate amount charged by Amazon and that payment refunded after few days. I already created a bill for deducted amount. and I didn't receive any document for deducted and received amounts. Can anyone explain the way of recording this type of transactions? Should I create a refund receipt or a supplier credit to that created bill?

RenjolynC · Accepted Answer

Thank you for your reply.I have an idea about matching the transactions. I want to know how to match the banking transactions related to my question. That means after combining the supplier credit and bill there is no way to match the bill to a banking transaction. That's why I asked what should I do to the received and deducted amount in banking window. should I exclude those transactions? I appreciate your time getting back here, DileepaNirmal. Let me add some additional details about matching the transactions. When a bill is not yet applied to a payment, QuickBooks will automatically recognize a match to the downloaded transaction. However, after recording the bill payment with a vendor credit applied, the system will no longer find a match. This happens because the bill already has a zero balance.  I've got these sample screenshot of the before and after scenario:   What we can do at the moment is to exclude the payment in the Banking page. Then, manually clear the transactions you've recorded in the bank register. To exclude, here's how:  Go to Transactions > Banking. In the For review tab, put a check mark on the duplicate transactions. Click the Exclude button.After excluding these transactions, you have the option delete them in the Excluded section. Here's a link for more reference: Exclude a bank transaction you downloaded into QuickBooks Online. For clearing the transaction, you can follow these steps:  On the left panel, click Accounting > Chart of Accounts. Find the bank where the transactions are posted and click the View register link. Locate the transactions and under the Reconcile (indicated by a check mark) column, click on the blank field until you see the letter C. This means cleared while R means Reconciled. Hit Save.Once done, you can use the article shared by my colleague DebSheenD on how to categorize other transactions in the For review page. When you're ready to reconcile the account, feel free to watch a video tutorial in this link: Reconcile an account in QuickBooks Online. If you need further assistance with your downloaded transactions or other features in your account, please let me know in your reply. I'll be right here to provide the solutions. Have a good day ahead!

Archie_B · Answer

It's good to see you here in the Community, DileepaNirmal.

Let me share an idea on how to record this type of transaction in QuickBooks Online.

You can track this type of transaction by creating a vendor/supplier credit and apply it to an open bill.

To create a vendor credit:

Click on + New.
Choose Vendor credit or Receive vendor credit.
In the Vendor dropdown, select your supplier.
Depending on how you record purchases with this supplier, enter the Category details or Item details. Usually, this is the category, product, or service you’re getting a credit for.
Select Save and close.

After that, follow these steps below in applying vendor/supplier credit towards an open bill.

Like this:

Click on + New.
Choose Pay bills or Pay bill.
Select a bill for your vendor from the list. You'll see the available credit with this vendor in the Credit Applied field.
Complete the fields, then click Save and close.

For additional information, check out these articles :

If you're still not sure how to handle this type of transaction, I recommend consulting an accountant for other ways in recording it.

Let me know if you still need further assistance about bills. I'll be checking your response. Have a good day!

Sign up

Login with SSO

Login to the community

Login with SSO