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Level 1

Clean way to record a rebate check in Quickbooks Desktop

My business received a rebate check from a utility company as part of some promotion.  How do I record the deposit to the business checking account in QB? Since the company is a vendor we buy a utility from, do I need to do anything special or do I just say there is a deposit from this company and treat it like income from any normal customer?

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QuickBooks Team

Clean way to record a rebate check in Quickbooks Desktop

Hi there, CCCBuilder.

 

You can create a deposit transaction to record the rebate check. First, you'll have to create an Income account to track where your deposit came from. Let me guide you through.

 

  1. In your QuickBooks company.
  2. Go to the Lists menu and choose Chart of Accounts.
  3. Click on the Account button and choose New.
  4. Tick the Income button then select Continue.
  5. Enter the Account Name to Rebates or something similar with rebates.
  6. You can add Number to this account, choose a unique one like 88888.
  7. Then click Save & Close.

 

Now you an create a deposit, here's how:

 

  1. Go to the Banking menu and choose Make deposits.
  2. In the Received From column, enter the name of the Vendor name of the vendor from whom you received the rebate.
  3. Under the From Account column, click on the Rebate account we created a while ago.
  4. Enter necessary details and verify.
  5. Click Save & Close.

 

I can see that this can be handy in the future, Give your customer a credit or refund in QuickBooks Desktop for Windows.

 

Let me know if you need further assistance about rebate. I'm here ready to back you up.

 

 

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