I'm here to help you record supplier refunds in QuickBooks Online, @SPJS.
Since you receive an actual deposit, I suggest creating a bank deposit to record the supplier refund.
Here's how:
- Click +New and select Bank deposit.
- Choose the bank in the Account drop-down list.
- Go to the Add funds to this deposit section and choose the name of the supplier under the Received From drop-down list.
- In the Account column, select the category/account that you selected on the initial bill or expense.
- Enter the amount and fill in the rest of the fields.
- Click Save and close.
You can use different methods when recording supplier refunds and credits in QuickBooks. To know which option you can apply to your scenario, check out this article: Handle supplier refunds and credits in QuickBooks Online.
In case you want to learn how to refund a customer in QBO, you can use this resource as your reference: Record a customer refund in QuickBooks Online
Post a comment if you have other questions about the refund process in QuickBooks. I'll be sure to help you out.
