Paypal refunds to company iin quickbooks desktop

I understand the importance of efficiently managing your vendor transactions, @kekoakat. I am here to provide you with an easy way to record vendor refunds in QuickBooks Desktop (QBDT) and ensure accurate bookkeeping figures.

To record the vendor refund, we need to create a Vendor Credit and post it on the expense account used for this vendor. Then, deposit the money received from the vendor using a Bank Deposit. Finally, use the Pay Bills option to link the bank deposit to the Vendor Credit.

I've included some screenshots for your visual reference. Please note that the names listed in the screenshots are just examples and not actual.

To begin, record a deposit from a vendor. Here's how:
 

1. Go to the Banking menu, then select Make Deposits.
2. If the Payments to Deposit window appears, select OK.
3. Choose the bank account where the refund was deposited under 'Deposit to'.
4. Go to the Make Deposits window, select the Received from drop-down and choose the vendor who sent you the refund.
5. In the From Account drop-down, select the appropriate Accounts Payable account.
6. Then, in the Amount column, enter the refund amount you received from the vendor.
7. (Optional) Enter a memo, check number, payment method, and class.
8. Select Save & Close.

Next, record a Bill Credit for the refunded transaction. Let me guide you on how: 

1. From the Vendors menu, select Enter Bills.
2. Click on Credit radio button.
3. Enter the Vendor's name.
4. Then, select the Expenses tab and enter the Accounts on the original bill.
5. In the Amount column, enter the appropriate amount for each Account that was refunded (the amounts may have to be prorated).
6. Select Save and Close.

Lastly, link the deposit to the Bill Credit. Kindly follow these steps:

1. From the Vendors menu, select Pay Bills.
2. You can utilize Filter By and Sort By, and type the Vendor's name to lessen the results.
3. Check the Deposit that matches the Vendor credit amount.
4. Select Set Credits and apply the Bill Credit you created earlier then select Done.
5. Select Pay Selected Bills, then select Done.

For more recommended steps in each scenario when recording refunds received from a vendor, you can refer to this article: Record a vendor refund in QuickBooks Desktop.

 To help you manage vendor transactions, you can run reports on QuickBooks Desktop.

Please keep me posted if you have any questions or concerns about managing vendors in QBDT. I'm here to help. Have a great day!