Skip to main content
J
jack1289
November 3, 2021
Solved

QuickBooks Desktop - supplier refund

  • November 3, 2021
  • 1 reply
  • 0 views

What is the best way to record the following supplier refund.

 

We set up an insurance repair policy for the repair of an electrical appliance.

 

The amount was for £120, to be paid off in 6 monthly installments of £20.

 

We paid 2 installments, so the balance remaining on the original bill was £80.

 

The appliance then broke, so the repair policy was cancelled, and the 2 installments paid of £20 were refunded on 2 different days.

 

How do i record the refund so that it goes against that particular bill, and also so that the bill of £120, is in effect cancelled, and the supplier balance shows the correct amount, as we have a few different repair policies, and it's this particular one that needs refunding without affecting the other bills.

Best answer by DebSheenD

Hello, jack1289.

 

We want to help you with your questions about this process. The refund is applicable only if the bill is already paid in full.

 

You'll see the original bill when linking to your supplier's refund.

 

You can follow scenario 1 in this article that'll help you record the refund: Record a supplier refund in QuickBooks Desktop.

 

Additionally, I'm adding our Accounts Payable workflow as a reference. There, you can learn more about managing and tracking the money you owe your suppliers. 

 

Feel free to leave a comment below if you have any other questions about refunds. I'll be always around to lend a hand.

1 reply

A
Ashleigh1
November 3, 2021

Hello Jack1289,

 

Welcome to the Community page, 

 

If you have a look at this link here it shows you step by step how to do it as there is a few different ways. 

J
jack1289Author
November 4, 2021

Hi @Ashleigh1 ,

 

I have read the link you have suggested, however it doesn't cover the point of where you have part paid for a bill, and also getting the supplier refund to show against the original bill when you still have other bills for that supplier part owing.

 

Can you please explain how to do those points please?

 

Thanks

D
DebSheenDAnswer
November 4, 2021

Hello, jack1289.

 

We want to help you with your questions about this process. The refund is applicable only if the bill is already paid in full.

 

You'll see the original bill when linking to your supplier's refund.

 

You can follow scenario 1 in this article that'll help you record the refund: Record a supplier refund in QuickBooks Desktop.

 

Additionally, I'm adding our Accounts Payable workflow as a reference. There, you can learn more about managing and tracking the money you owe your suppliers. 

 

Feel free to leave a comment below if you have any other questions about refunds. I'll be always around to lend a hand.

Terms & ConditionsAccessibility statement