Skip to main content
T
Thisisdavid
January 31, 2023
Question

How do I categorize reimbursements after returning a product?

  • January 31, 2023
  • 1 reply
  • 0 views

What are the steps for categorizing reimbursements on QBO? Also, is there an issue if the reimbursement was sent in multiple payments?

 

Ex: I purchased a product on the CC, and the vendor returned two separate checks that were deposited into the checking account.

 

Thank you,

1 reply

S
SashaMC
January 31, 2023

Good Morning Thisisdavid,

 

Thanks for joining this Community. I will be delighted to show you how to enter that reimbursement. Here's how:

 

  1. First, make sure you have already created the initial expense or check in QuickBooks and assigned a Category/Account to it.
  2. Choose + New and then Bank Deposit.
  3. Go to the Add funds to this deposit section:
    • Enter the amount refunded by the vendor and choose the Category/Account that you selected on the initial expense or check.
    • If this refund was for an expense that you linked to a customer or project, check the Track returns for customer checkbox, then select the customer or project. That way, your costs will not be overstated.
  4. If you deposited customer payments for invoices into the bank account along with the vendor refund, add them in the Select the payments included in this deposit section.

For more information about vendor credits and refunds, I encourage you to read this article. They even provided steps for different situations, such as recording vendor refunds on credit cards and forth. 

 

 

Let me know if you need further clarification. I will be here ready to help. Take care for now. 

Terms & ConditionsAccessibility statement