Merchandise Returns (Matching Vendor Credits to QBO Bank Feed)

If merchandise is returned to a store and the builder creates a negative bill that pushes to QB, it will create a vendor credit. The process for matching this vendor credit to the QBO bank feed is as follows:


Credit Cards:

Vendor Credits cannot be matched to the bank feed so they will need to be deleted and a Credit Card Refund Created in its place. I would still recommend creating the negative bill in CoConstruct so that they A) have a place to attach the receipt and B) can ensure that the bookkeeper has the proper job costing codes and customer/project. To create the Credit Card Refund, out of the bank feed. The following steps will be followed:

  1. Choose a category (doesn’t really matter which one because this will be deleted) and customer/project and click Add.
  2. Search for the transaction (easiest to use the magnifying glass in the top right corner and choose the most recent transaction.
  3. Choose the proper product/service code and customer/project under item details.
  4. Delete the category.
  5. Save
  6. Delete the Vendor Credit. The Vendor Credit can be found by searching the bill number, dollar amount, or going to the vendor transaction list.


Checking Account/Debit Cards:

Refunds in a checking account create deposits that cannot be associated with product/service codes, so they have to be reconciled with the vendor credit that is created from the negative bill pushing from CoConstruct. To create the deposit and reconcile, follow these steps:

  1. From the bank feed, select Accounts Payable as the Category along with the correct Vendor and click Add.
  2. Use the Pay Bills to connect the Bank Deposit to the Vendor Credit. Go to Pay Bills and select the bank deposit you just created. Type the amount of the vendor credit in the Credit Applied field and the Total payments should be $0. Click Save and Close
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