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Level 1



So I've tried multiple times to get a straight answer from QB live chat and I get told something different every time or the wrong information!

To put it simply:


- I paid £49 to a company called trade master

- I went to the bank page where the transactions are automatically linked from my bank and added it as an outgoing under 'training'.

- They then gave me a refund of £49 

- On my banking page, this transaction comes up automatically

- How do I add this (what account type), as if i put it under 'refund' it shows as an expense and despite putting in 'no vat', it will still show as an 'income', showing my business has 'made money'. Which is not correct.


I wish to add this as a refund amount instead in which it does not affect my total income, taxable income, etc.

Please help! Thank you and kind regards.

QuickBooks Team


Hello there, jacklyon-west.


I acknowledge your need for guidance on tracking your refund. Allow me to assist you by directing you to the appropriate support that can guide how to properly handle your concern.

When a refund is received, it will be classified as income for the business. It is essential to utilize the account type associated with the payment made for the company (trade master) to maintain accurate records.


In case you'd like to use a different category type, I'd suggest contacting your account for additional assistance. They can provide recommendations on which one to utilize for tracking the refund, ensuring it doesn't affect your total income and taxable amount. 


Tracking refunds from customers and suppliers can be crucial for efficient financial management. That's why I've compiled a list of resources that cover different methods to help you navigate this process effectively:


Additionally, utilize these guides to organize transactions, expedite the review process of downloaded data, and ensure a balanced account.:



Should you have additional questions about tracking refunds or any other QuickBooks concerns, don't hesitate to contact me again. I'm here to provide further assistance and support. Wishing you continued success in your business, jacklyon-west.

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