Not quite sure what the correct process is here... QB mac2019 user.
Scenario using arbitrary number :
It's nice to see your post today, Jfunk.
Let me guide you through the process of receiving refund from your vendors.
When recording a refund from your vendor, let's first enter a credit to your vendor before applying credit to a bill.
Once done, record a bill credit using Enter Bills for the refund amount. Then you want to pay the bill and apply your credit to reduce the amount you have to pay. To do this, choose Vendors, click Pay Bills.
To learn more about this whole process, you can check out this article: Entering a credit from a vendor.
In case you need help from a live support, feel free to contact our QuickBooks Desktop Mac Support. They'll be able to guide you through the whole process.
Here's how you can contact our phone support:
That should keep you on track. Let me know if you have additional questions or clarifications about recording refunds from a vendor. I'm always here to help.
What if my purchase from the vendor was 1 time, paid via EFT, then refunded due to item not arriving. The purchase happened in Jan, the refund in Feb. Would I still process the transaction as a Vendor-- Create Bill--Credit?
Hello there, @joeybags.
How's it going? Were you able to fix the vendor credit issue?
Please don't hesitate to come by the Community if you need further assistance. We'll be here to help you out.
Hey there, joeybags.
I'd like to add to this discussion and ensure you're able to move the credit to your bank account. The steps below will guide you through the process:
To deposit the vendor credit
After recording the deposit, you'll link it to the vendor credit to offset the negative balance that it created. Here's how you can do it:
To link the deposit to the credit
All of this information and more is available in our detailed guide on how to handle vendor refunds.
I hope this response finds you with a smile today. Let me know if there's anything else I can do for you, I want to make sure you're taken care of. Thanks for reaching out, wishing you and your business the best.
Maybe I am not understanding correctly. I did the credit part, but now it just shows a credit due. I paid the vendor months ago and have a $0 balance due with them. I need the post the refund to my bank account in QB.
Whether you enter a new bill or not relates to If you owe the vendor again. There is no Bill to enter for handling Returns.
You enter the vendor credit, to show for the date you Returned something to them. This creates an AP Credit. Now two things are possible: Either they will apply that to your next purchase from them, or you will get refunded.
If you get a Refund, that is the entry as AP for the vendor name:
1. If they put it on the Credit Card, you use Enter Credit Card Credit, enter AP, for that vendor name.
2. If they send a Check or put it on the checking account for the debit card you used, then you use Enter Deposit for the Vendor name and as AP.
Both methods require you to now go to pay bills, where the refund looks like a Bill that is unpaid, and you can apply the Vendor Credit to the refund.
If you manually take something to the vendor as a return, and they already refunded the credit card, then put the refund directly on the Credit Card Credit; list what you returned and already got refunded right here. There is No Need to also make a vendor credit first; you already Got the refund for that same date as the return.