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tim36
November 4, 2019
Solved

My supplier raises a proforma invoice that includes a deposit. They refund the deposit. How do I record this on quickbooks?

  • November 4, 2019
  • 1 reply
  • 0 views
Original commenter did not share additional details
Best answer by JonpriL

Hi there, @tim36!

 

You can create a bank deposit transactions so you can record the refund you received from your supplier. I'm here to help you accomplish this.

  1. Go to the Plus icon.
  2. Under Other, select Bank deposit.
  3. On the Account menu, select the bank account where you received the refund from.
  4. Select your supplier in the RECEIVED FROM column.
  5. Under ACCOUNT, select your accounts payable account.
  6. Enter the amount of the refund you received.
  7. Click Save and close.

In addition, here's an article you can read to learn more about how you can create a bank deposit: Record and Make Bank Deposits in QuickBooks Online.

 

As always, you can visit our Manage Suppliers and Expenses articles in case you need some tips and related articles for your future tasks.

 

If there's anything else that I can help you with, please let me know in the comment section down below. I'll be always around ready to help.

1 reply

J
JonpriLAnswer
November 4, 2019

Hi there, @tim36!

 

You can create a bank deposit transactions so you can record the refund you received from your supplier. I'm here to help you accomplish this.

  1. Go to the Plus icon.
  2. Under Other, select Bank deposit.
  3. On the Account menu, select the bank account where you received the refund from.
  4. Select your supplier in the RECEIVED FROM column.
  5. Under ACCOUNT, select your accounts payable account.
  6. Enter the amount of the refund you received.
  7. Click Save and close.

In addition, here's an article you can read to learn more about how you can create a bank deposit: Record and Make Bank Deposits in QuickBooks Online.

 

As always, you can visit our Manage Suppliers and Expenses articles in case you need some tips and related articles for your future tasks.

 

If there's anything else that I can help you with, please let me know in the comment section down below. I'll be always around ready to help.

S
sdodyer
January 15, 2024

Hi,

If the supplier account is showing a balance of (£240.00) due to a refund how do you post this transaction onto the supplier account as the method being shown using a bank deposit means the refund does not sit on the supplier account which means it is not showing all the transactions of that supplier.

G
GeorgiaC
January 15, 2024

Hi sdodyer, thanks for joining this thread

 

Following steps 4 & 5 ensures the bank deposit posts to the supplier's account. Please check that the correct supplier is chosen in the Received from field and that Accounts payable is selected in the Account field. 

 

Accounts payable is the default account for tracking transactions related to your suppliers in QuickBooks Online, but this may be named as Creditors instead. If you need any further help, get back to us below!

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