How do I enter a credit to my bank account in QB?
How do I enter a credit to my bank account in QB? For example I purchased several items for a total of $100. I returned one item that cost $25. On my bank statement there is a charge of $100 and a credit for $25. I have to manually enter all transactions in QB. I enter the credit in the “enter bills” section and select the credit radio button. However in QB the $25 doesn’t show up in the deposit column and I think that is what is causing the balance in QB to be different from my bank balance
This is a great question. You don’t want to enter the credit in the “Enter Bills” window. This should only be used to enter actual bills that you plan to pay later on. Instead, enter the credit as a deposit in your check register. You can set up an account called Refunds or just use the expense account that you are receiving the “credit” back for.
Crystalynn Shelton, CPA