receiving refund from supplier
QuickBooks UKreceived a refund cheque on a transaction that went thru the books a while ago. How do I "receive" this crediting the cheque against the right account
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02/10/12 1:30pm PST
Viewed by asker 02/11/12 1:36am PST
Viewed by asker 02/11/12 1:36am PST
2 Replies
CountryMusicMom
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02/10/12 2:07pm PST
Do you have a credit entered for the supplier?
If not, there should be.
Then deposit the cheque to your bank account. Use the supplier name and accounts payable for the account.
Go to Pay Bills. Find the "bill" (Deposit), mark it to be paid and apply the credit.
02/14/12 5:29am PST
Latest post
if you don't have a credit you can make a journal entry to debit the bank, then credit the expense and VAT lines if necessary.
