How do I enter a refund for a returned product into quickbooks?

Ask no more, @taylorpapgar.

You can refund customers for returned products using a Refund Receipt like so:

Creating a Refund Receipt

1. Click the Plus (+) icon and select Refund Receipt.
2. Select the Customer you'll be refunding at the top.
3. Choose the product or service you're refunding them for, and ensure the Quantity and Rate equal the Amount needing refunded.
4. Click Save and close.

These instructions are also available from our thorough guide on refund receipts, as well as the video tutorial below:

With these steps, you can create refunds for any products your customers have returned. Please touch base with me here should you need any additional assistance, I want to ensure your success. Thanks for bringing us your question and have an awesome weekend.

After I do the return on te turn receipt  would the product go back to inventory automatically ? Or I have to go to product and add it back ? 
Tha k you

I’ve got the information you need after refunding customers for returned items using the Refund Receipt, @Luxury08.

When a refund receipt is created, QuickBooks will debit (lower) the revenue tied to the items you're refunding. Your bank account will be decreased by the refunded amount. And the items will be returned back to your inventory count. It means the system will put your products back into your inventories.

You might want to visit this reference to learn more about recording a refund based on various scenarios: Record a customer refund in QuickBooks Online.

Moreover, if you need help reconciling your bank after processing and matching those transactions? You can check this article for complete instructions: Reconcile an account in QuickBooks Online.

Reply to this thread if you have more questions about refunds or other QuickBooks procedures. I'd be more than happy to share some insights with you. Take care always!