I've got your back on recording the gift card received as a refund from your vendor, @mpeterson11.
In QuickBooks Online (QBO), the best way to track gift certificates received from your vendors is to create a cash account to record and track the balance of your gift certificates.
To do this, here's how:
- In the left menu, click the + New button.
- Select Check or Expense depending on how you paid the bill.
- From the Payee ▼ dropdown, select the vendor you got the certificate from.
- From the Bank account (check) or Payment account (expense) ▼ dropdown, select the account used.
- Select the Category ▼ dropdown to select the gift certificate account for this vendor. If you don’t have an account for the vendor yet, here's how to add one:
- Select Add New.
- Set the Account Type to Bank and detail type to Cash on hand.
- Give the account a name specific to the vendor and its status as a gift certificate account. Example: Joe's Hardware - Gift Card.
- Ignore the ▼ dropdown field that says When do you want to start tracking your finances from this account in QuickBooks?
- Select Save and Close.
- Enter the amount of the gift certificate
- Click Save and close.
After that, visit this article for the detailed steps on using the gift card: Record gift certificates purchased from vendors.
In addition, see this great resource in recording refunds from your vendor: Handle vendor credits and refunds in QuickBooks Online.
Please let me know if you have any questions about recording vendor refunds. I'm always right here to help you.
