cancel
Showing results for 
Search instead for 
Did you mean: 
jenny-electrowel
Level 2

How do I enter refunds from Australia Post for postage expense and to remove it from bank feed. do i create a customer "Australia Post Refunds" . How do i categorise it.

 
1 Comment 1
KimberlyS
QuickBooks Team

How do I enter refunds from Australia Post for postage expense and to remove it from bank feed. do i create a customer "Australia Post Refunds" . How do i categorise it.

Hello there, Jenny.

 

I'll guide you on recording refunds for postage expenses in QuickBooks Online.

 

When you've received money back from a supplier, you might need to enter a refund in the system to keep your record accurate. To begin with, add the individual or company to whom you paid for the expense as a supplier if you haven't added them yet.

 

Here's how:

 

  1. Proceed to Expenses on the left pane.
  2. Select Suppliers, then New supplier.
  3. In the Supplier information window, complete the fields.
  4. Click on Save.

 

Once done, proceed to these steps to create credit and a deposit if you originally paid with a debit card:

 

  1. Click on the + New button, then Supplier credit.
  2. Choose the appropriate supplier in the Supplier field.
  3. Enter a Payment dateAmountGST​, ​and Category.
  4. Select Save and close.
  5. Proceed to the + New button, then Bank deposit.
  6. Enter the following details in the Add funds to this deposit section:
  • Enter the desired supplier in the Received From field.
  • Choose the Creditors account (Accounts payable) in the Account field.
  • Add the amount of the refund in the Amount field.
  • Choose the right GST, which is not inclusive/exclusive of tax in the GST field.

       7. Select Save and close.

 

After that, refer to this article to apply the credit and deposit through a cheque, then match it to the existing transaction on your bank feeds: Handle supplier refunds and credits in QuickBooks Online. From there, proceed to Supplier refund if you originally paid with a debit card section and follow steps 8 to 12.

 

Moreover, I recommend contacting an accountant to help you categorize your transaction accordingly. You can visit this website if you don't have one yet: Find an Accountant or Bookkeeper | QuickBooks Australia.

 

On the other hand, you might want to run and customize a report to have an overview of your business finances to help you make informed decisions.

 

Don't hesitate to update us in the thread if you have additional questions about recording refunds or other related concerns in QuickBooks Online. We're always here to lend a hand.