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… Continue reading How to handle refund on a debit card from a vendor to the project
This article will show how to link a deposit from a customer to an Invoice. Let’s assume the customer payment was entered first through Bank Deposit (this may be from bank feed or entered manually) instead of Receive Payment form and then you’ve created an invoice later, you can follow the steps below to link… Continue reading How do I match a new Invoice to a payment that’s already been deposited to a bank account
This article deals with step-by-step instructions on how to manually recording fees (Paypal or Square) and then match the deposit transactions in bank feed —Review items from your bank and link each item to an existing record. EXAMPLE – Signed up for Square (or PayPal) so that I could accept credit cards. I will be… Continue reading How to handle fees (Paypal and Square) deducted from customer payments in QuickBooks Online
This has to do with reflecting accurate direct expenses related to customers on Income by Customer Report. If you are depositing a vendor/supplier refund for an expense that was previously Billed to a customer, select “Track returns for customers” box and choose that same customer on the deposit and mark it Billable. For example, if… Continue reading Why mark it billable to a customer and select “track returns for customers” box on a bank deposit
Example: We received a credit card payment from customer A ($334.00) and sent a credit card refund ($1,000.00) to customer B on the same day. This resulted in a net negative deposit ($666.00) from our credit card merchant provider. How to match a refund receipt and a regular receipt in order to properly match the… Continue reading How do you match a deposit to a receipt when the credit card refund is more than the actual deposit
You’ve two ways to match with bank feed deposit. 1) Match it directly from the bank feed downloaded transactions. Select a row for deposit in question. The row expands to show you “Find other matching transactions” button. Once you click this button, you will see a long list of possible match transactions. To easily locate… Continue reading I have already received payments in QBO from multiple customers. How to make them match with a single deposit I see in my bank feed.
“Track returns for customers” has to do with whenever you invoice your client for billable expenses (time and material) and the client pays less (for a variety of reasons) than invoice amount. This is a way to correctly track returns for customers account and receive payment to match deposit amount. In case, you will need… Continue reading How to use track return for customers field shown on deposit form
First, you will need to create a new dummy bank account. You will also need a due to the owner as a liability type account to use it for later reimbursement. Step#1 Use bank deposit form (create + sign > other > bank deposit) to record contributed amount by the owner to pay a contractor.… Continue reading Owner paid a subcontractor with his own money. How to make sure Vendor shows up on 1099 and still able to write the reimburse check to the Company Owner