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supama_5
Level 1

Can you help? We bought some materials which were faulty which were paid for. A credit note and refund was given, how do I show this?

 
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Best answer May 21, 2019

Accepted Solutions
JamesC
QuickBooks Team

Can you help? We bought some materials which were faulty which were paid for. A credit note and refund was given, how do I show this?


Hey Supama_5

 

You can do this using the Supplier Credit - to create to represent the refund being agreed. You'd reference any VAT and Expense accounts used for the original purchase on this Supplier Credit.

 

You can then create a Deposit to Creditors, - selecting the Supplier for the creditors to affect. This is to represent the money being placed back in your account.

 

Using the Pay Bills screen, or sometimes the Cheque screen, select the deposit and supplier credit and link the two together.

 

We've included a handy how to guide here with more in depth detail. Any questions at all on this please let us know, we'd be happy to  help further.

 

 

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1 REPLY 1
JamesC
QuickBooks Team

Can you help? We bought some materials which were faulty which were paid for. A credit note and refund was given, how do I show this?


Hey Supama_5

 

You can do this using the Supplier Credit - to create to represent the refund being agreed. You'd reference any VAT and Expense accounts used for the original purchase on this Supplier Credit.

 

You can then create a Deposit to Creditors, - selecting the Supplier for the creditors to affect. This is to represent the money being placed back in your account.

 

Using the Pay Bills screen, or sometimes the Cheque screen, select the deposit and supplier credit and link the two together.

 

We've included a handy how to guide here with more in depth detail. Any questions at all on this please let us know, we'd be happy to  help further.

 

 

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