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jack1289
October 16, 2020
Question

Quickbooks Desktop - Supplier refund

  • October 16, 2020
  • 1 reply
  • 0 views

I am using QuickBooks Desktop 2020.

 

I have been trying to sort out a supplier refund for the following issue i have, but i just can't see what steps i'm missing.

 

For the Electricity bill, i am charged a regular monthly amount.

 

The amount previously in credit was £203.96. I then paid £59 for the next 3 months, making the total credit on the account £380.96. For the 4 payment i have entered them as cheques, and used accounts payable as the account, and the customer:job as the supllier name.

 

I then received a bill showing the actual usage as £264.98 which i entered as a bill to the supplier, meaning the current balance is now £115.98 in credit which shows correctly in the quickbooks supplier balance. The electric company has now sent a refund for £115.98 to my bank account.

 

How can i record it correctly, as currently i don't have the £115.98 showing in the bank account, rather the supplier balance shows -£115.98, and also it shows £264.98 as amount due when i go to pay bills.

1 reply

Angelyn_T
Angelyn_T
October 16, 2020

I can guide you on how to record the amount in QuickBooks Desktop, @jack1289.

 

You can record the refund (£115.98) as a deposit. I'll show you how.

 

  1. Select Make Deposits from the Banking tab.
  2. Fill in the necessary field on the Make Deposits window.
  3. Click on Save and close.

You can also read this article to learn more about supplier refund in QuickBooks Desktop.

 

Please let me know in the comment section if you have any follow-up questions. I'm always here to answer them. Take care and enjoy the rest of the day!

J
jack1289Author
October 17, 2020

Hi @Angelyn_T ,

 

Is it possible to give a bit more detail regarding the exact steps, as i made a deposit, for the £115.98 and put the account as accounts payable, as per the article, and now the supplier balance shows as £0, however when i go to pay bills, it still shows the bills as not being paid, and when i go to pay bills and select credit it doesn't let me select all the credits.

Angelyn_T
Angelyn_T
October 17, 2020

I appreciate you for getting back to this thread, @jack1289.

 

I'm here to give you additional details on how to apply the credit amount (deposit) on the existing bill. 

 

When paying the open bill, you can click on the Set Credits button to apply the deposit recorded. I'll show you how.

 

  1. Click on Pay Bills from the Vendors menu.
  2. Select the bill you want to pay.
  3. Tap on the Set Credits button, then select the available credits from the Apply Credits window.
  4. Hit Done.
  5. The credit amount is now showing up under the Credits Used column. Select Pay Selected Bills to record the payment.
  6. The amount paid is zero under the Payment Summary page. Click Done.

After these steps, you can review your transactions under the supplier's name. The bill is now marked as paid.

 

As you continue working with QuickBooks, you can read the topics from our help articles as your future references.  Here's the link: Find articles, video tutorials, and more.

 

That should point you out in the right direction today. Keep me posted if you have any other questions. I'm more than happy to help. Have a good day!

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