cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Community Contributor **

How do i record a partial refund from a store purchase paid by a debit card

Bought 2 items in Office depot . The clerk made a mistake with price of one item so refunded that item back to the debit card. So this shows as point of sale credit on my bank statement. Please help me how to address this correctly so my bank statement will reconcile.

1 Comment
Established Community Backer ***

Re: How do i record a partial refund from a store purchase paid by a debit card

create a deposit to that bank account, use the same expense account as the original purchase used as the source account for the deposit.

 

but if you bought items to stock as inventory, use other income as the source account.