How To Do A Refund On Quickbooks For Mac


How to Record a Credit Card Payment in Quickbooks As for Quickbooks credit card payment how to record, please follow the steps below! Enter your QuickBooks and choose 'banking' from the menu bar on the left. From the top side of the screen, click on banking and select the bank account you want to use. So, how do you properly receive a vendor refund? Go to the deposit screen, in the received from field enter the vendor name. Then in from account field, here you put accounts payable. Memo and amount as usual then save and close. This may seem a little strange, but it’s the best way to do this. Payment method: Enter the method your vendor used to refund you. Amount: Enter the amount of your refund. Select Save and close. Step 3: Use Pay Bills to connect the bank deposit to the vendor credit. Even though you aren’t paying a bill, this is the right thing to do.

Sometimes a bill isn’t the whole story on keeping things balanced with your vendor. The vendor may owe you! You may have had to return the items you ordered from the vendor, or the vendor may have had to make an adjustment to a bill sent to you. In cases like this, you have a credit from that vendor. So how do you track that in QuickBooks?

Enter the credit

How To Do A Refund On Quickbooks For Mac

The first step is to tell QuickBooks about the credit. Choose Vendor > Enter Bills. See the Credit option at the top of the window? Select that and then enter the information about the credit just as you would a bill.

QuickBooks records the credit in your Accounts Payable account. In the register for that account, you can see the transaction type is BILLCRED.

Apply the credit to a bill

OK, now you’ve got a new bill from your vendor. You enter it using Enter Bills. Now you want to pay the bill, applying your credit which will reduce the amount you have to pay. Choose Vendors > Pay Bills just as you would if you were just paying the bill.

If you sort by the vendor name, you’ll see both the bill and the credit. Look at the Sloan Roofing vendor listed in this example. There’s one bill for $1,047 and one credit $200. Applying the credit will reduce what I owe Sloan Roofing to $847. I do that by selecting both the bill I want to pay and the credit I want to apply to it.

Tip: If you don’t see the bill or the credit you’re looking for, choose “All bills” under Show.

When I click OK, QuickBooks applies the credit. When I look up the Bill Payment, I can see where the payment is tracked in QuickBooks as $847, the $1047 bill with the $200 credit applied.

So that’s how you enter vendor credits and apply them to bills. If you need any more information about managing your bills, be sure to check out Bills page here on Little Square.

The most common way we receive QuickBooks data from clients is via QuickBooks backup files (or .QBB files), so we’ve provided some short, simple instructions for how to send us this type of file. And if you’re interested, at the bottom of the page you can also dig into the details of why .QBB files are by far the most common type of file we work with (as opposed to .QBW or .QBA files).

Note: If you use QuickBooks Online, click here for instructions on how to send us your data. The instructions below only apply to desktop versions of QuickBooks.

Creating a QuickBooks Backup File

Creating a .QBB File in QuickBooks for Windows

  1. Open your QuickBooks company file
  2. In the upper-left corner of the program window, choose File → Back Up Company → Create Local Backup.
  3. In the new window, make sure the radio button next to Local backup is selected, then click Next. If a new window appears called Backup Options, click Browse, and choose a location to save your backup file to that you’ll remember. Click OK.
  4. In the next window, make sure the radio button next to Save it now is selected, then click Next. Save the file.

Mac os x software restore. You have now created a .QBB file you can send to your accountant.


Creating a .QBB File in QuickBooks for Mac

  1. Open your QuickBooks company file
  2. In the upper-left corner of the program window, choose File → Back Up to QuickBooks for Windows. Choose the name of your company file and click Save.
  3. In the Apply Password window, enter a password for the file if you wish to have one. We’ll need this password to open your file later.
  4. If you want to see the location of the file you’ve just saved, click the Show File in Finder button in the last window.

You have now created a .QBB file you can send to your accountant.

Sending Us the Backup File

Our favorite way to receive QuickBooks backup files is in-person delivery at our office on a flash drive or CD-ROM. Our next-best alternative is to receive documents using our encrypted file-sharing service, ShareFile. If you need help figuring out how to use ShareFile, we have a page to provide help here. Note that we will also need the administrator password for the .QBB file to restore it on our end.

Why We Generally Use QuickBooks Backup Files

We use QuickBooks backup files most frequently because backup files can work between different versions of QuickBooks. This is true both for versions of QuickBooks from different years and versions of QuickBooks designed for Mac versus Windows. A more detailed explanation of this reasoning follows below.

Understanding How QuickBooks Updates

It’s important to understand that there are two different ways to “update” QuickBooks; this will provide context for why your accountant may often have such trouble getting your files to open on his or her computer.

One type of updating is when you download updates for your particular version of QuickBooks (often for things like bug fixes and security updates). These are the updates that are free after you’ve purchased the product. You download them from within the QuickBooks program, and they are often called things like “R2” or “R17.”

How to do a refund on quickbooks for mac osx

The other type of updating QuickBooks is purchasing the latest version of the QuickBooks software from Intuit. Intuit releases a new version of QuickBooks each year, often with a few new bells and whistles. And their idea is that business owners should purchase a new QuickBooks product every year.

This second type of updating often doesn’t make much sense financially for business owners, so many just don’t do it (which is completely fine, as long as Intuit still supports the software). The only negative result of not buying a new product every year tends to be the annoyance of trying to get your file to work for your accountant at tax time, since Intuit hasn’t made sure that QuickBooks files from different versions of the program are compatible with each other.

So for example, if you have QuickBooks 2017, your accountant has QuickBooks 2019, and you try to send your accountant a copy of your company file (the one with the .QBW extension), your accountant may not be able to open the file because your version of QuickBooks may be too old compared to his or hers.

Understanding QuickBooks File Types

If you understand the different types of files the QuickBooks program creates, you can make sure your accountant won’t have trouble using your QuickBooks file. Pay special attention to the differences between the file extensions for different types of files. Often the extension at the end of the file’s name will be the only clue to let you know if your accountant can even use your QuickBooks data in its current form.

QuickBooks Company File

This is a regular, vanilla QuickBooks file. When you open QuickBooks and record your day-to-day transactions, you’re making changes to this type of QuickBooks file. It has the extension .QBW, meaning that if your business is called ABC Company, your QuickBooks company file might be called something like ABC_Company.qbw. If you have the latest version of QuickBooks (QuickBooks 2019 as of this writing) and you are a Windows user, sending us the .QBW file is an OK way to send us your data (though if you are in this situation, sending us an Accountant’s Copy is a bit better, see below).

If you choose to provide us your QuickBooks data as a .QBW file, we will generally need to know a password to the file to use your data (often your administrator password).

QuickBooks Accountant’s Copy File

How To Do A Refund On Quickbooks For Mac Os

This is a special type of file Intuit has created for sharing your QuickBooks data with your accountant. It has one of two extensions, either .QBX or .QBA. If you have the latest version of QuickBooks (again, QuickBooks 2019 as of this writing) or a year older and you are a Windows user, sending us this type of file is a good way to send us your data.

There are two main benefits to you if you provide us with your data this way instead of in a .QBW or .QBB file. First, you can set a password just for your accountant to use this file, which is nice if for any reason you don’t feel comfortable providing your accountant with your administrator password. And second, QuickBooks has some features specific to this type of file that help facilitate any changes your accountant might need to make to your data, including a “dividing date” feature that helps ensure you and your accountant don’t make conflicting changes to your QuickBooks data while your accountant is working with the file.

How To Do A Refund On Quickbooks For Mac Download

The big caveat, on the other hand, is that this system doesn’t work if you don’t buy a new QuickBooks product every year, and it doesn’t work if you use QuickBooks for Mac. This is why we don’t often use .QBA files, even though their intended purpose is specifically for clients to share their data with us; it’s just not very common for a client’s version of QuickBooks to be compatible with our own.

QuickBooks Backup File

Unlike any other type of QuickBooks file, backup files tend to function as the lingua franca of QuickBooks. What we mean by this is that if you the client create a backup file using your version of QuickBooks (maybe it’s QuickBooks 2017), we can restore that backup file using the version of QuickBooks we have on our system (as of this writing we use QuickBooks 2019). Note that if you use QuickBooks for Mac, then this is the only way you can provide us with a copy of your QuickBooks file, because our office uses Windows.

How To Do A Refund On Quickbooks For Mac Free

If you choose to provide us your QuickBooks data as a .QBB file, we will need to know the administrator password to the file to restore your data in our system using our version of QuickBooks.