I overpaid a bill to a supplier, who is now paying back

 
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qblabyrinth's Avatar (by Gravatar)qblabyrinth posted on
October 15, 2007, 7:46 am
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I have received a refund of the overpaid amount and now want to enter
it so this payment from the supplier shows against the original bill
and balances everything back to zero. At present my overpayment is
showing as a negative amount which is correct.

Hope am making sense and my problem is cleear.

Searched a site and only found overpayment by customers or overpaying
supplier with different problems.

Cheers, qblabyrinth


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L's Avatar (by Gravatar)L posted on
October 15, 2007, 2:50 pm
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Re: I overpaid a bill to a supplier, who is now paying back


I'm not sure what you mean by having the refund from the supplier 'show
against the original bill'. When you made the overpayment, only the amount
of the bill was applied - the rest stayed a vendor credit in A/P. So, when
you deposit the vendor check, the check will offset the credit.

From the 'make deposits' window, enter the check. Use the vendor name will
in 'Received From' and 'Accounts Payable' in 'From Account'. Enter a memo to
record that the refund is for the overpayment from the specific bill.



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qblabyrinth's Avatar (by Gravatar)qblabyrinth posted on
October 16, 2007, 9:34 am
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Re: I overpaid a bill to a supplier, who is now paying back

Thanks L that worked. I needed to know "Accounts Payable' in 'From
Account'.  I am a newbie/novice/apprentice so I was a little wobbly on
this issue.

Thanks again!!!

Cheers, qbl

L wrote:


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