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LH10
Aug 9, 2019 6:55 PM UTC
Question

How to enter refund for partially paid bill?

I ordered a custom item for $2000. In order to process my order I had to pay 50% in advance, balance would be due upon shipping. So I paid $1000. I entered this as a bill, which is now partially paid. However, this item has been cancelled and I received my $1000 refund. What is the best way to enter this refund? 

2 replies

JamesM
Aug 9, 2019 7:18 PM UTC

Hi there, 

 

Welcome to the QuikBooks Community. I'll be glad to share info and make sure your question is answered the best way possible.

 

In order to get the best advice on how to enter the refund, I recommend reaching out to your accounting professional. Doing this helps avoid any discrepancies in the future. Otherwise, here's an article with more info on processing a refund. Check out the article using this link here. 

 

Let me know if you have other questions. I'll be on standby.

Rustler
Rustler
Aug 9, 2019 9:39 PM UTC
Assuming the refund was cash/check - enter a deposit in that amount and use accounts playable the source account for the deposit then bring up pay bills, select the partially paid bill and apply the credit the deposit created Sorry I have no idea how VAT works so I can not help with that aspect
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