Vendor Credit Card Refund on Inventory Item

Hello there, jimbo1960.

I'm here to help record your vendor credit card refund in your QuickBooks Desktop (QBDT).

You're already on the right track! You can refer to the steps below for further guidance on the process.

Here's how:

1. In QBDT, go to the Banking menu at the top, then select Enter Credit Card Charges.
2. From the Credit Card drop-down, choose the credit card account.
3. Click the Refund/Credit radio button.
4. Pick the appropriate Vendor name and enter the Date, Ref No, and Amount.
5. Enter an appropriate memo to describe the transaction.
6. If the refund does not have Items, click the Expenses tab.
7. Choose the appropriate Accounts and enter the Amount.
8. Hit Save & Close once done.

To know more about managing and recording vendor refunds (with different scenarios) in QBDT, consider checking out this article: Record a vendor refund in QuickBooks Desktop.

I also recommend visiting our website for more tips and other resources you can utilize in the future: Self-help articles.

Please leave a comment below if you have more questions about vendors or anything else QuickBooks. I'm more than willing to answer them. Stay safe always.

I don't know what account under expenses to use.  I tried "inventory asset", but it did not lower the inventory value.  How about Costs of Goods.  That makes more sense.