How to handle refund on a debit card from a vendor to the project

How to handle refund on a debit card from a vendor? It’s downloaded as a bank deposit in bank feed. How can I assign that credit to the project?

It involves few steps process to handle vendor refund on a debit card to the project in QBO.

1) Create Vendor Credit (Plus sign at the top right > Vendors > Vendor Credit)
a. Select Vendor payee
b. Select same expense account used to enter original transaction
c. Enter amount
d. Select Customer/Project
e. Save
 

VENDOR CREDIT FORM
VENDOR CREDIT FORM

 
2) Go to Banking (Left Dashboard > Banking)
a. Under “For Review” tab, locate refund deposit on a debit card from a vendor
b. Click the transaction row
c. Switch radio button from “Add” to “Find Match”
d. Under “Resolve difference” drop-down arrow, select “Add new transactions”
e. Under add transactions tab, enter vendor refund credit
Payee = Vendor payee (gave you refund)
Category = Accounts Payable (A/P) account
Amount = Refund amount
f. Save
 
ADD NEW TRANSACTIONS BOX
ADD NEW TRANSACTIONS BOX

 
ENTER DEPOSIT REFUND AS A NEW TRANSACTION
ENTER DEPOSIT REFUND AS A NEW TRANSACTION

 
NOTE: If QuickBooks is not connected with the bank account (Plus sign at the top right > Others > Bank deposit). It will take to the same deposit screen.
 
3) Go to Pay Bills to clear both credit and deposit from vendor’s A/P account (Plus sign at the top right > Vendors > Pay Bills)
a. Select Vendor line check box to clear the account. It should be zero amount
b. Save
 
PAY BILLS FORM
PAY BILLS FORM

 
That should do it.
 
For step by step video tutorials, check out our YouTube video. If you like this video don’t forget to like and subscribe!

 

How does one print a memo line on a check

When you enter a check (create + sign > check), there is a memo section on the bottom left the side of the check (see attachment below). If you have text entered in that memo area, it will print on a check.

check memo line
check memo line

However if you enter a bill (create + sign > bill), even if you’ve entered text entered in that memo area, it will not print on the check when select pay bills (create + sign > pay bills).

If you need to print a fixed memo line like the account number or a specific memo line message on a check print, you can select “account number” field on vendor information page (see attachment below). That way it will print the same memo line on specific vendor checks all the time.

vendor info acct no
vendor info acct no
check print with memo
check print with memo

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#QuickBooks – How do I enter and print reference information on voucher checks?

In QuickBooks Online, there is no feature setup to print reference number (or vendor bill number) on voucher checks. Reference number comes directly from entered bill number field.

 

Here is a sample of Voucher Check printout:
Click on the screenshot below to enlarge it
voucher check

  • Reference column = entered vendor invoice number on “bill no.” field
  • Original amount = vendor invoice amount
  • Printer setup selection = voucher (not standard)

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How does one record use of multiple payment sources for a single expense?

I made a large purchase that had to be paid with multiple payment sources.

I can find lots of information for splitting a single payment into multiple expenses, but how does one go about recording the opposite case? For example, a $10,000 expense that was paid $6,000 from a checking account and $4,000 on a credit card account.

ANSWER:

Start with entering a Bill for this purchase of $10,000

From the home page screen > Create + sign > vendors > bill
Fill out bill form. See attached photo 1 for reference.
.

Then use Pay Bills, and pay by using the bank checking account for that $6,000 part. Then, Pay bills, and do the credit card account for $4,000 part.
From the home page screen > Create + sign > vendors > pay bills
See attached photo 2 for manual check payment reference.
See attached photo 3 for credit card payment reference.

photo1
photo 2
photo 3