Thank you for posting here in the Community, etjung20.
I'll make sure to help how to record your returned item in QuickBooks Self-Employed (QBSE). Then, share some details about it.
Currently, tracking returned purchases in QBSE isn't available. This is because refund transactions are not included in the Schedule C category. However, we can make a record of this transaction.
You've mentioned that you already recorded a transaction for the item you bought and then return it. To record this kind of transaction.
You can follow these steps:
- Go to the Transactions menu.
- Look for the transaction you've created on that item and then tick the box beside it to put a checkmark.
- Click the Exclude icon above. (this is for duplicates, reimbursements, customer refunds, and returned purchases).
- Click the Apply button once done.
After doing the steps, you can now click this link to guide you on how to categorize transactions in QBSE.
Additionally, you can read through this article for guidance in preparing your quarterly tax form: Get quarterly and annual tax info from QuickBooks Self-Employed.
If you have any additional recording refund-related questions. I encourage contacting us or posting again. We'll be happy to assist you. Have a good one!