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CJNOVO5
Level 1

Vendor Credits

I input an expense from a vendor that I paid on my credit card into QBO.  The vendor didn't get the product in and returned my payment to my checking account.  How do I record that properly in QBO?

1 Comment 1
Tori B
QuickBooks Team

Vendor Credits

Hey there, @CJNOVO5.

 

Thanks for reaching out to the Community for support. I'm happy to go over some steps to enter a vendor credit for expenses in QuickBooks Online. 

 

The first thing you'll need to do is create the credit and ensure it links to the right expense account for that vendor. 

 

Here's how:

 

  1. Go to the +New tab and choose Vendor credit.
  2. In the Vendor dropdown, select your vendor.
  3. Depending on how you record purchases with this vendor, enter the Category details or Item details. Usually, this is the category, product, or service you’re getting credit for.
  4. Hit Save and close.

 

Once you've created the credit, let's deposit the money into your account. 

 

  1. Click the +New button.
  2. Select Bank Deposit.
  3. In the Account drop-down menu, choose the account where you got the refund.
  4. From the Add funds to this deposit section, fill out the necessary information.
  5. Hit Save and close when done.

 

For more details, please check this article: Manage vendor credits

 

If you are unsure which accounts to use, I encourage you to reach out to your accountant for further advice. Your accountant will know the right accounts to use for this process. If you don't have an accountant, don't sweat. You can find one here in our Resource Center.

 

Please don't hesitate to let me know if you have any questions or concerns. I'm always around to lend a hand. Take care!

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