"Should i record the revenue transaction for refund received from vemdor?"

Hello there, aungsawtun.

You can record it by creating a refund from vendor transaction instead of revenue transaction because it has to be of the same account. I'll guide you through the steps.

1. In your QuickBooks Online company, go to the Hamburger icon.
2. Select the + New button and choose Vendor credit.
3. Enter the Vendor's name, Category or Item, Payment Date and the Reference number if applicable.
4. Verify the transaction and hit Save and close.

I added this article to know how to link your deposit and Vendor credit transaction: Record and make Bank Deposits in QuickBooks Online.

Let me know if you have any concerns. I'm ready to back you up. Have a good one.