RETURNS

WESNV · ‎July 31, 2023

I purchased some items and had to return some. I entered the original receipt but how do I enter the return? The money was returned to my bank to the original debit card I used.

Angelyn_T · ‎July 31, 2023

Thank you for your prompt response, WESNV. I'm stepping into this thread to provide additional information about tracking refund amounts resulting from returned purchases.

You can begin by depositing the refunded amount by the vendor for returned items. Here's how:

Click on Make Deposits from the Banking menu.
If the Payments to Deposit window appears, select OK.
Select the account you use when paying the items under Deposit To.
Select the vendor name under Received From.
In the From Account drop-down, select the appropriate Accounts Payable account.
In the Amount column, enter the actual amount of the Vendor check.
Enter the remaining information in the Deposit.
Click on Save and Close.

After that, record a bill credit for the returned items.

Go to the Vendors menu, then select Enter Bills.
Select the Credit radio button to account for the return of goods.
Select the vendor name, then go to the Items section.
Enter the returned items with the same amounts as the refund check.
Tap on Save & Close.

Lastly, link the deposit to the bill credit.

Click on Pay Bills from the Vendors tab.
Mark the deposit that matches the vendor check amount.
Select Set Credits and apply for the Bill Credit.
Hit Done.
Tap on Pay Selected Bills, then Done.

This article will also give you more tips about the process: Record a vendor refund in QuickBooks Desktop.

Aside from that, you can also gather important details while working with your vendor transactions in our system from this link: Accounts Payable workflows in QuickBooks Desktop.

If you have any other questions while tracking the vendor reimbursement, let me know by leaving a comment below. I'm just a few clicks away to help you again. Have a great day!

View solution in original post

JaeAnnC · ‎July 31, 2023

It's nice to see you here, @WESNV. I'll help you record vendor refunds in QuickBooks Desktop (QBDT).

Since the vendor sends you the refund as a credit card credit, you may refer to the steps below.

Go to Banking and select Enter Credit Card Changes.
From the Credit Card dropdown, select the credit card account.
Click the Refund/Credit radio button.
Choose the vendor name and enter the Date, Ref No, and Amount.
Describe the transaction in the memo section.
Select the Item tab and enter the items and amounts from the refund.
Click Save & Close.

Additionally, you can run reports to get a complete picture of your business's various transactions, including expenses.

Please don't hesitate to get back to us if you need additional assistance with refunds. We're here to back you up always. Take care and have a great day ahead.

WESNV · ‎July 31, 2023

The purchase was a debit card which I do not have that setup in my QuickBooks. I enter transactions as EFT and apply to my Checking Account.

Angelyn_T · ‎July 31, 2023

Thank you for your prompt response, WESNV. I'm stepping into this thread to provide additional information about tracking refund amounts resulting from returned purchases.

You can begin by depositing the refunded amount by the vendor for returned items. Here's how:

Click on Make Deposits from the Banking menu.
If the Payments to Deposit window appears, select OK.
Select the account you use when paying the items under Deposit To.
Select the vendor name under Received From.
In the From Account drop-down, select the appropriate Accounts Payable account.
In the Amount column, enter the actual amount of the Vendor check.
Enter the remaining information in the Deposit.
Click on Save and Close.

After that, record a bill credit for the returned items.

Go to the Vendors menu, then select Enter Bills.
Select the Credit radio button to account for the return of goods.
Select the vendor name, then go to the Items section.
Enter the returned items with the same amounts as the refund check.
Tap on Save & Close.

Lastly, link the deposit to the bill credit.

Click on Pay Bills from the Vendors tab.
Mark the deposit that matches the vendor check amount.
Select Set Credits and apply for the Bill Credit.
Hit Done.
Tap on Pay Selected Bills, then Done.

This article will also give you more tips about the process: Record a vendor refund in QuickBooks Desktop.

Aside from that, you can also gather important details while working with your vendor transactions in our system from this link: Accounts Payable workflows in QuickBooks Desktop.

If you have any other questions while tracking the vendor reimbursement, let me know by leaving a comment below. I'm just a few clicks away to help you again. Have a great day!

WESNV · ‎July 31, 2023

Thank you so much. It was the last step that I was missing.

WESNV · ‎July 31, 2023

I have done the credit and it is not showing up in the Pay Bills. Will credits show up there?

Kurt_M · ‎July 31, 2023

Thanks for getting back here in the thread, @WESNV.

Know that you're on the right track with the steps provided by my colleague. Also, please be aware that when paying bills, credits will reflect in the Discount & Credit Information For Highlighted Bill section, specifically in the Total Credits Available field. If it still doesn't show up, you'll want to ensure you've selected the correct account when making a deposit. This way, you can get through and accomplish your task on time.

For visual reference, see the screenshot attach.

Moreover, we've got these articles to help you manage refund, and ensure data stays accurate inside QBDT:

@WESNV, we'll be happy to have you here again if you need assistance performing specific tasks inside QuickBooks or have any additional questions. Feel free to visit us anytime. Take care, and have a nice day!

coloradocustom-k · ‎March 17, 2024

there has GOT to be an easier way, this will take so much time it would be worth it to just keep what was purchased. I return a LOT of stuff and to do this with every return receipt would take an astronomical amount of time.

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