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garyevans1991
July 23, 2019
Solved

Is it possible to process partial supplier refunds for returned products in QBO Simple Start?

  • July 23, 2019
  • 3 replies
  • 1 view
No text available
Best answer by Ashleigh1

Just to add to this discussion, as we've just discovered this after 30 to 40 minutes with one of your support reps.

I find it shocking that Quickbooks is able to market SimpleStart as even a basic package if it lacks this fundamental feature. You're seriously saying that you cannot account for a partial or total refund of an expense paid to a supplier without upgrading to the next plan up?

 

It's exactly the same as if we had to refund one of our own customers (a feature you do allow on Simple Start) - it's incredibly basic and fundamental to bookkeeping for any level of business. You shouldn't be offering a basic plan without this functionality.

 

Unbelievable. And the reason why we're now looking for alternative software. Not because of the price increase - as we'd have been happy to pay a bit more for the basic plan if it included this functionality in the first instance - but the tactics used with effectively forcing people to upgrade.


Hello Eversir, 

 

Thanks for commenting on this thread, 

 

We have taken your feedback on board and we will pass it on to our developers. 

 

As simplestart doesn't have the feature of bills. 

 

You could do this workaround if you are not wanting to upgrade to the next package that does cover bills. 

 

The workaround is you would need to create a deposit and in the account column of the 'add funds to this deposit' section select the same expense account that was originally used in the bill/expense. 

3 replies

A
Alessandra_B
Level 5
July 23, 2019

Hey @garyevans1991,

 

You’ll need to record a bank deposit when receiving a refund from your supplier. Let me guide you through the steps.

 

To achieve this, here’s how:

  1. Click on the Gear icon.
  2. Choose Bank Deposit.
  3. Enter the supplier name in the Received from column.
  4. Enter Account and Amount.
  5. Click on Save and Close.

You can refer to this article for more information: How Do I Handle Supplier Credits and Refunds?

 

We also have our Help Articles page in case you want to learn more processes in QuickBooks.

 

Feel free to let me know if you have any other questions. I’d be happy to help you.

G
garyevans1991Author
July 24, 2019

So instead of putting the transaction as income I create a new bank deposit. Do i then need to match that to the transaction in my bank feed?

E
EdwardR
July 24, 2019

Hi Gary,

 

The Bank Deposit is to represent the refund from the supplier going into your bank account.

 

 

G
garyevans1991Author
July 24, 2019

This is gonna sound stupid.

 

So in my chart of accounts it's showing 2 transactions for the refund. The one that my bank feed pulled and then the new one I've just created

 

One shows a negative amount, one shows as positive? Is that correct or have I done something wrong

P
payment after leaving
Level 10
July 24, 2019

Hi garyevans1991

 

It may be that you have selected your bank account in the category section when you have added the transaction in from the banking screen.

If you can PM us on Facebook or DM on Twitter with a screen shot of the transaction we will be able to confirm this for you.

P
pawhouse
February 7, 2021

Here's the answer to handling a refund from a supplier in QB Simple Start, where the refund has come through as a bank transaction. This also adjusts the GST properly.

I am NOT an accountant, so I am happy for any accountants to correct me if I am wrong, but it all worked just fine.

I guess it is not in Intuit's interest to give us the easy answer when there is an upgrade available.

Create a NEW Journal entry.

In the first line select the Account you added the expense to originally. eg. Repairs and Maintenance, add the amount of the refund as a CREDIT, add a description and select the supplier in the Name column. Make sure GST on Purchases is selected.

On the second line, in Account, select the Bank account that shows the refund. Then the amount in the DEBIT column and a description.
You can add a memo down the bottom so it shows in the GST details report easily.
Select Save and New.

Next open up banking where the refund amount is, you should see a '1 record found' in the Category or Match column. simply select Match as the Action and that is it.

To confirm, go to Reports -> GST Details. You will find the entry in the purchases section, with the taxable amount and GST adding up to the refund amount as a negative $ entry.

You can also go to Accounts -> the account you selected and open it, you will see a negative entry in there for the refund.

    D
    DBT85
    October 28, 2021

    Somehow I replied to the wrong post.

     

    FML its done it again. I give up.

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