How does a Sales Receipt apply to a vendor? Do I have to set the vendor up as a customer, as well?
My scenario is: We paid the wrong vendor (call it Vendor A). They cashed our check and issued a check to return the payment. I set the deposit to Vendor A/Accounts Payable. This shows up on Vendor A's transaction list, but does not credit the correct expense. If I set the deposit to Vendor A/Correct Expense, it doesn't show on Vendor A's transaction list.
If I set the (original) incorrect payment to Accounts Payable, I cannot offset the credit and debit, so both show on the Accounts Payable Aging Detail. Do I need a JE to make both the P&L and vendor account correct? Thanks!
