I can help you handle a cash purchase refund in QuickBooks Online (QBO), @HAM9.
To record the supplier refund or cash purchase refund in QuickBooks, here's how:
- Sign in to your QuickBooks Online account.
- Make sure you have already created the initial expense or cheque in QuickBooks and assigned a Category/Account to it.
- Select + New, then Bank deposit.
- Go to the Add funds to this deposit section:
- Enter the amount refunded by the supplier and choose the Category/Account that you selected on the initial expense or cheque.
- If this refund was for an expense that you linked to a customer or project, tick the Track returns for customer checkbox, then select the customer or project. That way, your costs will not be overstated.
- If you deposited customer payments for invoices into the bank account along with the supplier refund, add them in the Select the payments included in this deposit section.
- Once done, hit Save and close.
Here's the article that will provide more details about the process: Handle supplier credits and refunds in QuickBooks Online.
Also, if you need further assistance with recording the supplier refund, I suggest consulting your accountant to ensure the accuracy of your data. If you don't have one, you can utilize our Find an Accountant tool.
Nevertheless, I've included these helpful articles to assist you in effectively categorizing transactions in QBO and ensuring that your accounts consistently align with your bank and credit card statements.
Feel free to post here again if you have follow-up questions about recording refund transactions in QuickBooks Online. I'm always here to help. Have a good one.
