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I am a general contractor and hire sub-contractors to perform all the work on home remodels. One of my subs broke a mirror in the home while performing their scope of work. I replaced the mirror and received a $340 check from my sub-contractor to reimburse me for the cost of replacement. How can I file this in quickbooks so it's not considered income?
-Dennis
Solved! Go to Solution.
Hello there, @amirtoptier.
You'd just want to make sure to use the same expense account used in buying the replacement mirror. This way, it will offset the original expense transaction. I can walk you through how to do it.
You can read through this article to learn more ways on how to record your refund transactions: Enter a refund from a vendor.
Also, I'd recommend consulting your accountant once these steps are complete. They'll be able to guide you in determining the best way to handle your expense transactions.
I'm only a few clicks away if you have any other questions. Wishing you and your business continued success.
Hello there, @amirtoptier.
You'd just want to make sure to use the same expense account used in buying the replacement mirror. This way, it will offset the original expense transaction. I can walk you through how to do it.
You can read through this article to learn more ways on how to record your refund transactions: Enter a refund from a vendor.
Also, I'd recommend consulting your accountant once these steps are complete. They'll be able to guide you in determining the best way to handle your expense transactions.
I'm only a few clicks away if you have any other questions. Wishing you and your business continued success.
Thank you sir!