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How do I enter a Vendor refund?

Forum|Forum|7 years ago
October 16, 2018
51 replies
154 views

My company buys parts to complete repairs on vehicles, but sometimes we buy extra parts that we do not need, so we decide to return them. How do I record a refund from a vendor? Is it recorded the same even if the original purchase was made from a check or debit card?

QuickBooks Online

Best answer by RenjolynC

Hi khaleds,

Thanks for reaching out to us!

You can check out this article to guide you through the steps on how to enter a vendor refund: https://community.intuit.com/articles/1145200.

Please let me know if you have any additional questions.

RenjolynCAnswer

Level 9

Hi khaleds,

Thanks for reaching out to us!

You can check out this article to guide you through the steps on how to enter a vendor refund: https://community.intuit.com/articles/1145200.

Please let me know if you have any additional questions.

P

psneathen

Sorry to be so dense, but I just don't get this. How does Step 2: Link the deposit to the vendor credit work? Within these steps, I don't understand 'd', as I am not able to locate the 'Add to Expense' or 'Add to Check' sections when creating an Expense or Check entry.

My scenario involves a returned item to a hobby store and I'm trying to figure out how to enter the appropriate transaction(s) to account for the deposit we received from this return.

Any help you can provide would be greatly appreciated. Thanks in advance.

C

computermomof6

Pleased to see you here, @gratitude.

Allow me to add more information on how recording a vendor refund works in QuickBooks Online.

In recording a refund transaction, you cannot categorized a refund (which is shown as positive amount or income when downloaded from your bank) as an expense account right away. To avoid getting a negative balance for your vendor, let's follow the correct process of recording a vendor refund in the system.

Click the Plus icon (+).
Choose Bank Deposits.
In the Deposit To drop-down, select the account where the money will be deposited.
Type in the Date.
Enter these fields:
- Received From: Choose the vendor who sent you the refund.
- From Account: Select the Accounts Payable account or the account used in the expense transaction.
- Amount: Enter the vendor check amount.
- Memo, Chk No, and Pmt Meth are optional fields.
Click Save and Close.

Once a deposit is entered, you'll see a positive balance in your vendor's information page. To zero it out, you'll need to link the deposit to a vendor credit. Here's how:

Go to the Plus icon (+).
Select Expense or Check.
Choose the payee.
Once you select a payee, you'll see a window on the right corner of the screen showing the deposit transactions you've created.
Click on Add.
Click Save and Close.

That should do it!

For additional insights, you may check out this article: What is the difference between Pay Bills and Write Checks?.

Feel free to leave a comment below if you have follow-up questions about recording refund transactions in QuickBooks Online. I'm always here to help.

@Angelyn_T

This was just what I needed! I was able to show the refund in my checking, but I needed to apply that refund for materials to a client's account for accurate job profit/loss. THANK YOU!! 🙂

G

gsowa

Hi,

This support article appears to be written for a different version of QBO than I have. I'm using QBO Self-Employed and cannot for the life of me figure out how to get a vendor refund entered. Any time I try to enter the expense as a positive amount it just converts back to a negative amount.

How do I enter a refund received for a prior expense (e.g. service credit or returned supplies)?

R

Rasa-LilaM

QuickBooks Team

Greetings, gsowa.

Welcome to the Online Community. Let me clear things up regarding recording vendor refund.

At this time, we don’t have any specific categories for refunds/reimbursements in QBSE. To straighten out your record, you can exclude the refund transaction when you categorize your business-related expenses since you’re not receiving or spending anything from your account.

We love to hear customer’s ideas since it guides us on how we can improve the product. I suggest you let our Product Development Team know that adding a category for refunds/reimbursements is a great feature to have.

You can send send through the following link: https://selfemployed.uservoice.com/forums/242769-general.

If you have additional questions about working in QBSE, you can browse each topic found on this link: https://community.intuit.com/quickbooks-self-employed.

Thanks for giving me the opportunity to help. Wishing you the best with your business endeavors. Have a great day ahead.

K

Kevin DeRita

you have to be kidding me!!!!! what do you mean QBSE can not account for this?????

C

Christymoo

We bought QB desktop from a vendor, but it has been past 30 days, but before 60 days. I was told by QB that we can still get our money back. We are now denied. Help! We signed up for QB online in the meantime still giving them business.

N

Nick_M

Level 4

Hi there, Christymoo.

Thanks for dropping by the Community today. I'm happy to help get you in the right place. Because the Community is a public forum setting, we don't have access to individual accounts. Because of this, I would suggest reaching out to our support team for help. They can look into your account and see if there's any way to get you a refund. To reach them, follow these steps:

How to get a call or chat from us:

Open QuickBooks.
Go to Help, then select QuickBooks Desktop Help.
Select Contact Us.
Give a brief description of your issue, then select Let's talk and then choose a way to connect.

Phone support may be limited due to volume. If you have any other questions, feel free to post here. Thanks for your time and I hope you have a nice afternoon.

C

Christymoo

I have done this, I prefer to speak to an actual person. Thank you.

E

ECHS-ME

I followed the instructions to enter a vendor credit, a bank deposit using the accounts payable account, and gone through bill pay to apply the credit. Now my vendor shows the refund twice- a credit and a deposit. I'm using QB online. Any idea how to make this work correctly?

L

lin_jcaj

Level 9

Thanks for joining this thread, SLRV.

I'll help you figure this out.

You'll want to make sure that transactions are linked properly. This way, it won't display the refund twice. Or you may delete and recreate all the transactions to ensure to link transactions correctly.

And if there is really a duplicate transaction, you can delete it to not show on your vendor's data. Here's how:

Go to the Sales or Expenses menu.
Locate and open the transaction.
Review the transaction. Make sure you need to delete it.
Select More in the footer. Then select Void or Delete.

That should do it! Please let me know how the steps work, @ECHS-ME. I'll be right here to help.

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