Refund

I'm here to show you how to record a vendor refund, gjsinop.

To start, we'll have to enter a vendor credit. This ensures the credit hits the expense account you use for this vendor.

1. Go to + New.
2. Select Vendor credit.
3. In the Vendor drop-down menu, select your vendor.
4. Enter the necessary details.
5. Once done, click on Save and close.

Then, let's deposit the money you got from the refund in QuickBooks. Here's how:

1. From + New, select Bank Deposit.
2. In the Account drop-down menu, select the account where you got the refund.
3. In the Add funds to this deposit section, fill out the following fields.
   • Received from: Select the vendor who gave you a refund.
   • Account: Select Accounts Payable. Important: You need to pick Accounts Payable so you can tie the refund to the vendor credit. 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.
4. Select Save and close.

Once done, use Pay Bills to connect the bank deposit to the vendor credit. Even though you aren’t paying a bill, this keeps your vendor expenses accurate.

1. Select + New, then Pay Bills.
2. Choose the bank deposit you just created.
3. You’ll see the amount of the vendor credit in the Credit Applied field. The Total payment should be $0.00.
4. After that, click on Save and close.

Additionally, I'm adding these articles about entering a vendor credit and applying them to your transactions as future references:

• Enter a Credit From a Vendor
• Applying Vendor Credits

Please come back and keep us posted on your progress in recording the vendor refund. I'm determined to get all your transactions recorded in QuickBooks.