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bjacobs1
Level 1

How do I enter a Vendor refund?

this is not a "vendor refund.' this is a. refund I RECEIVE having returned product. To AMAZON. you know that is a common thing. why is this so confusing?  ON my OLD QUICKBOOKS desktop versoin I just ahd to only enter a credit as refund, and make it a deposit.

But your automatic fields do not really allow this to happen here.

 

Eman_E
QuickBooks Team

How do I enter a Vendor refund?

Hello @bjacobs1,

 

I hope you are doing well. I understand your time is valuable, so I'd like to help you with recording a vendor refund in QuickBooks Online.

 

When you receive a refund from a vendor, you cannot categorize it as an expense account right away. Instead, you need to deposit the money you received. 

 

Here are the steps to record the refund:

 

  1. Click on the + New button and select Bank Deposit.
  2. Choose the account where you received the refund in the Account drop-down menu.
  3. Under the RECEIVED FROM column, select the vendor who refunded you.
  4. In the ACCOUNT column, select Accounts Payable. This will help you tie the refund to the vendor credit.
  5. Enter the method the vendor used to refund you and the refunded amount.
  6. Click on Save and close.

 

Once you have completed the above steps, the final step is to connect the bank deposit to the vendor credit using Pay Bills. This will ensure that your vendor expenses are accurate.

 

Here's how to do it:

 

  1. Click on the + New icon and select Pay Bills.
  2. Choose the bank deposit you just created. The Credit Applied field will display the amount of the vendor credit.
  3. Click on Save and close.

 

It's important to enter bills in QuickBooks to track credits for your vendors. This will help you keep track of your account balance and credits using Accounts Payable. If you don't enter bills, you can add a note to remind yourself about the credit in the future.

 

If you need more information, you can check out these articles: 

 

 

Please let me know if you have any follow-up questions about recording refund transactions in QuickBooks Online. I'm always here to help you.

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