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Apr 29, 2024 5:53 PM UTC
Question

How do I categorize a deposit on business bank account that concerns a refund of an item (job material)?

I am in process of reconciling business bank account. While going through the account transactions I have come across an item (job material) that was bought and then returned. I don't know how to categorize this transaction.

1 reply

Apr 29, 2024 8:50 PM UTC

Hi there accordpd,

 

Thanks for reaching out about your supplier refund. QuickBooks Online is a great able to help you keep track of sales and expenses so you can view the profit of your company. I can provide some information about recording a refund.

 

When you receive the bank fees back as a refund, you could enter it as a supplier refund using these steps. Once the supplier credit is created, follow the steps in the same article to create the deposit, and then you can match the transaction seen in the Banking tab to the deposit.

 

If you have any other questions, feel free to reach out here.