Vendor Vendor Credit Vendors

I returned items that were ordered for customer job and charged to my bank debit card. They will be refunded back to my bank debit card. How do I enter this credit into QBO back to customer job?

It is kind of hard of believe they do not have designated “Debit Card Credit Form” (or Expense Credit Form), just like one they have for Credit Card Credit Form.

I am not excited to give this way-around approach, but it will work especially recording credit for customer job related return.

#1 create new credit card type account. Call it “debit card clearing account” (or something similar). This has be to under CREDIT CARD Type.

#2 use credit card credit form (create + sign > vendors > credit card credit form). select this newly created “debit card clearing account” just like you select other credit card name when you return products paid by credit card. This will record credit return for the customer job. It will leave with negative balance.

#3 This one is extra step you need to do. GO to “Transfer” form (create + sign > other > transfer).

Tranfer Funds from = Debit Card Clearing Account from the drop-down list

Transfer Funds to = Selection of bank account used for debit card from the drop-down list

With step #3, debit card clearing account will have zero balance. Bank account should correctly reflect deposit amount.

Done. Everyting accounting wise should be work fine.

If you like to see “Debit Card Credit” form (or Expense Form paid by Debit Card) added in future revision, add your voice here. Remember, they make improvements based on your feedback.

From the home page screen > company gear (upper right corner) > your company > feedback

Note: Just for recording debit card credit for return (and if customer job is not relevant), you can go to bank register and enter as bank deposit. Or use Bank Deposit Form (create + sign > Other > Bank Deposit

debit card clearing account

debit card entry using ccc form

debit card transfer

debit card register

Bank Deposit Bank Register Banking

We have several refunds and deposits that were grouped together by our merchant account processor and deposited in our bank as a negative deposit amount.

You are right! They do not offer any designated way to record as a negative deposit amount. They missed to recognize it happens in business.

Here is my work-around approach for now. You will need to create a new bank account type account. Let’s name the account as “Deposits Clearing” account.

For the refunds part, you will need to create “Refund Receipt” and select “Refund From” as “Deposits Clearing” account.

For the deposits part, you will also need to select Deposit to and send it to “Deposits Clearing” account. This could be either from “Receive Payment” form if it was for paid invoice or directly from “Sales Receipt” form.

After these two steps, you should see negative balance shown on “Deposits Clearing” account. In order to make that account zero, we will use bank transfer tab.

Go to “Transfer” (Create + sign > Other > Transfer form

Transfer funds from = real bank account

Transfer funds to = “Deposits Clearing” account

Transfer amount = deposit amount

Once you transfer funds from real bank account that, entry will create as negative deposit transaction.