This does not seem like the  correct solution.  The credit is from 2016. Entering a bill and applying a credit will cause the P&L to be overstated by the amount of the refund.  This would be alright if the amount was small, but in larger amounts, this is the wrong way to do this. 

For the amount of money QB charges, you'd think you'd be able to record the deposit and have a place to mark it as a credit refund.