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533439299
Level 1

how to i show an expense credit

I have quickbooks easy start.  I have entered entered an expense (supplies). I have returned an item from that receipt.  how do i show a return?  

If i just edit the expense will that mess up rectifying with my bank statement? 

TIA

2 Comments 2
PatriciaT
QuickBooks Team

how to i show an expense credit

Hi 533439299,

 

I know how important it's to properly record your data in your books. QuickBooks Online is equipped with powerful tools to ensure accuracy in your account. I'll be happy to point you in the right direction with this.

 

When it comes to whether you should record a transaction or not, how to record it, and how to categorize it, your accountant is the best resource for more information and proper guidance. In the EasyStart plan, you only have access to the Credit card credit feature to record any money movement in your credit card. Based on the nature of your transaction, your accountant will be able to figure out if you need to use the Credit card credit feature already available in your plan or create a Supplier's credit, in which case you'll have to upgrade your plan to take advantage of that option. For that matter, I strongly encourage you to reach out to an accountant to ensure that everything's lining up correctly in your books. You can easily invite an accountant to your books or find one in your area. Just head to the My Accountant tab to get started, then select Find a pro to help.

 

If you need to upgrade your plan, here's how: Upgrade your QuickBooks Online subscription

 

You may also find this article useful: Enter a refund from a supplier

 

I hope this helps! You're always welcome to stop by if you need anything else.

 

 

cmt-bookkeeping
Level 1

how to i show an expense credit

You can also record it with a journal entry...

Debit the bank or credit card account you received the refund on.

Credit the supplies account (remember to enter the supplier and select the correct tax amount)

 

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