WHAT IF: How do I record an unspecified Vendor Refund check in QuickBooks?

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Vendor refund

Why create a multi stop procedure when (like Christy and Joanne suggest) post the deposit as a credit to the affected expense account and call it a day. KISS!

David J Rothfeld more than 1 year ago

Deposits are not a 'Vendor' related Transaction

Deposits are not a Vendor related transaction; therefore, if you want all of your vendor transactions to show up in the Vendor Center for a specific vendor, you must tie the 'deposit' to a Vendor related transaction using the methodology specified in this article. Even if you select transactions under the Vendor Center you won't find the Deposit.

Come reporting time, or while trying to reconcile sub-ledgers you will find that a QuickReport of the Vendor does not show the Deposit, but Expenses by Vendor includes the Deposit. It's always best to do things 'the QuickBooks way' so that everything matches up, even if you can't 'keep it simple'.

insightfulaccountant.com more than 1 year ago

Vendor refund

Yipsies stripsies! Really???!!! Step 1, 2 & 3? Why not just post the refund amount directly to the appropriate expense in the Make Deposit window. Step 1 and done.

Christy Bertani more than 1 year ago

A simpler approach

How about simply posting the deposit to water expense (to continue your example.). One step instead of three.

Joanne Baker more than 1 year ago

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