Record a deposit and refund from a vendor for a bill already paid

You may receive a refund from one of your vendors and deposit the amount refunded to your bank account. Since you've already paid the bill, record a Deposit and reverse the original expense. If you're not depositing a refund, but have received a credit, enter a Bill Credit and apply it.

Detailed Instructions

Deposit the refund to reverse the original expense:

1. From the Banking menu, select Make Deposits.
2. If the Payments to Deposit window opens, select any payments you would like to include in this deposit and click OK.
3. In the Make Deposits window, click the Deposit To drop-down and select the account you would like to deposit into.
4. Click the Received From field on a blank line.
5. In the Received From column, enter the name of the vendor from whom you received the money.
6. In the From Account column, select the expense account used on the original bill.
   
   
7. Enter a memo, the check number if you received a check, and the method of payment such as a check, or credit card.
8. (Optional) If you use classes, enter the class for this deposit.
9. In the Amount column, enter the amount of the refund.
10. (Optional) If the vendor has issued a refund exceeding the amount owed to you as a credit, enter only the amount of the over payment on the next line of the deposit using the vendor's name, Accounts Payable as the account, and the amount.