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aaadditions
Level 2

How do I enter a refund w/o adding it as a deposit & increasing my Sales for the year? Ex: I bought materials from home depot & had to return/ it shows as a deposit.

 
6 Comments
vpcontroller
Level 11

How do I enter a refund w/o adding it as a deposit & increasing my Sales for the year? Ex: I bought materials from home depot & had to return/ it shows as a deposit.

@aaadditions 

Deposit for purchase return will go to the same original account you used to record the Home Depot purchase, not the Sales Income account.

Hope this helps!

john-pero
Community Champion

How do I enter a refund w/o adding it as a deposit & increasing my Sales for the year? Ex: I bought materials from home depot & had to return/ it shows as a deposit.

You spent a certain amount and recorded the outflow form checking (or as a charge on HD or other card account). Now you got either a credit to apply to HD or cc account (enter as cc credit) or you received actual cash at the store. 

 

What did you do with the cash? Or reverse of a debit card transaction? It went into the bank - Anything going into the bank is a deposit, but as @vpcontroller said - it is now also a reverse (you have to enter it as such) of the original purchase purpose.

Candice C
QuickBooks Team

How do I enter a refund w/o adding it as a deposit & increasing my Sales for the year? Ex: I bought materials from home depot & had to return/ it shows as a deposit.

Greetings, @aaadditions

 

I can provide you with some additional information about how you can enter a refund without it showing as a deposit. At this time, we don't have an option to record a refund as some other name rather than a deposit. However, I can personally submit feedback on my side so that our Product Developers can consider this feature in an upcoming update. When a refund occurs back to an account, it will always show as a deposit. 

 

If you think of any other questions you'd like to ask, just let me know. I'm always here to lend a helping hand. 

aaadditions
Level 2

How do I enter a refund w/o adding it as a deposit & increasing my Sales for the year? Ex: I bought materials from home depot & had to return/ it shows as a deposit.

yes please I would like additional info. on how to enter it without it showing as a deposit

ss771357
Level 1

How do I enter a refund w/o adding it as a deposit & increasing my Sales for the year? Ex: I bought materials from home depot & had to return/ it shows as a deposit.

I used my credit card in a Restaurant now they gave me a rebate ,how to record it because it shows  as "Transfer from Uncategorized Asset"

LieraMarie_A
QuickBooks Team

How do I enter a refund w/o adding it as a deposit & increasing my Sales for the year? Ex: I bought materials from home depot & had to return/ it shows as a deposit.

I'm here to make sure everything matches your credit card account, @ss771357.

If QuickBooks doesn't know how to categorize a transaction, it uses the Uncategorized Income, Uncategorized Expense, or Uncategorized Asset accounts to temporarily hold them.

 

To modify the transaction, you'll have to switch the radio button from "Record as transfer" to "Categorize." From there, you can select the appropriate account to record the rebate.

  1. On the Banking page, select the For Review tab.
  2. Click the rebate transaction.
  3. Select the Categorize radio button.
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  4. From the Vendor drop-down list, select the vendor's name.
  5. From the Category drop-down menu, select the expense account used to record the original vendor invoice.
  6. Enter a descriptive memo for the rebate transaction in the Memo field.
  7. Click Confirm.

 

For more insights about the procedure, you can follow the steps provided by my colleague above or check this article: Assign, categorize, edit, and add your downloaded banking transactions.

 

I'm always here if you need further assistance. Have a good one!

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