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WE paid a vendor using acctg code for expenses. They refunded us. What is the best way to receive the refund so it is coded to job, vendor name and acctg code?

 
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WE paid a vendor using acctg code for expenses. They refunded us. What is the best way to receive the refund so it is coded to job, vendor name and acctg code?

Hi there, @suzannek.

 

It's nice to have you in the Community.  I'd be glad to share some steps on how to receive a refund from the vendor and make sure it's linked to the correct job, vendor name, and accounting code. 

 

When creating a refund for the vendor you need to create a deposit to link to an Expense or Check. If the refund is for returned inventory items, you need to create a vendor credit. 

 

Here's how: 

  1. Click the Plus (+) icon and select Vendor Credit.
  2. On the Choose a payee drop-down, select the name of the vendor. 
  3. On the ACCOUNT column, select the accounting code.
  4. Enter the amount.
  5. On the CUSTOMER/PROJECT column, select the job.  
  6. Click Save and close.

After that, you enter the vendor refund check in the deposit screen. 

  1. At the top right, click the Gear icon. 
  2. Select Bank Deposit
  3. On the Add funds to this deposit section, select the vendor.
  4. On the Account column, select Accounts Payable (A/P).
  5. Enter the amount.
  6. Click Save and close.

Finally, create a Check to link the two.

  1. Click the Plus (+) icon and select Check.
  2. Select the vendor’s name as the payee. Once you do that, the Deposit and the Vendor Credit will show on the right side of the screen.
  3. Click Add on both Deposit and Vendor Credit.
  4. Click Save and close.

Once you followed the steps above, you’ll be able to record the refund check successfully. The following article contains additional information about this, as well as steps to call our Phone Support. They have tools to help you get to the resolution quickly.

Thanks for joining the Community. If you have any other questions receiving a refund,  feel free to leave a comment below. I'll be happy to help you further. 

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