May I know how to record over payment to supplier?

You can record a supplier credit for the overpayment, Kim. I’d be happy to guide you through the process.

In QuickBooks Online (QBO), a Supplier Credit serves as a powerful tool that helps you manage a variety of situations, such as overpayments, returned goods, discounts, or adjustments. This credit can be utilized to offset future purchases or to adjust your accounts payable balance, offering you greater flexibility and control over your financial management. With this feature, you can streamline your accounting processes while ensuring that your records remain accurate and up to date.

Here’s how to do it:

1. Go to +New and select Supplier credit.
2. Choose the Supplier in the dropdown.
3. Choose either Category details or Item details.
4. Input the necessary details.
5. Once done, click Save and close.

For more in-depth information, please refer to this article: Enter supplier credits and refunds in QuickBooks Online.

Additionally, you can run supplier reports to gain a comprehensive overview of your accounts payable transactions, which can help you stay organized and informed about your finances.

If you have further questions regarding recording your overpayment to a supplier, please return to this thread. We’re here to assist you in any way we can.