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Handle supplier refunds and credits in QuickBooks Online
by Intuit•153• Updated 1 month ago
Learn how to handle supplier refunds and credits in QuickBooks Online based on your payment method or specific circumstances.
Select the option that applies to you from the list to jump to the relevant section.
Note: How you enter the refund depends on how you record your purchases. If you’re not sure, ask your accountant. Or, we can help you find an Accountant.
Record supplier refunds
Record supplier credits
Match supplier credits and refunds
Matching supplier refunds to supplier credits is an important accounting process that helps ensure that all accounts receivable and accounts payable balances are accurate.
Step 1: Enter the supplier refund
- Select + New.
- Select Bank deposit.
- In the Account dropdown menu, choose your bank account.
- In the Add funds to this deposit section:
- Received from: Select the supplier who gave you a refund.
- Account: Select Creditors.
- Enter the amount.
- Select Save and close.
Step 2: Match the supplier refund to the supplier credit
- Select + New.
- Select Cheque.
- In the Payee dropdown, select the supplier.
- Look for the Deposit and Credit, select Add.
- Select Save and close.
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