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I am using Quickbooks Pro 2011. I received a $750 cash payment from a customer, then used $150 of it to pay a vendor's invoice, creating a bank deposit of $600.

I can't figure out how to credit the customer, show the payment to the vendor and end up with a single check register deposit of $600.

I tried to do a split deposit such that there are two lines: one for $750 with the customer in the "Received From" field and the From Account being "Undeposited Funds". The other is for a negative $150 with the vendor in the "Received From" field and the From Account being "Repairs and Maintenance".

On the customer's account, they are properly credited for $750. And in the check register, I have the correct $600 deposit. But on the vendor's account, the $150 payment doesn't show up.

So I'm either missing one little thing or I need to do it a totally different way.

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up vote 4 down vote accepted

Sounds like you need a cash account. Suggest you do as follows:

  1. Add an account to represent cash on hand – let's call it "Cash".
  2. Record a deposit of the full $750 to "Cash".
  3. Record the payment of the vendor's invoice from "Cash".
  4. Record the deposit/transfer from "Cash" to your checking account.

This better models what actually happened in real life, rather than trying to adapt things into a system that lacks a cash account.

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Chris - thank you that is perfect! And you're absolutely right - it models what is happening in real life. – user673 Dec 8 '12 at 20:34
You're welcome. – Chris W. Rea Dec 8 '12 at 22:54

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