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Are you in search of the process to record a vendor refund in QuickBooks desktop or online? Or just got a refund for a business expense? We will help you to find out the process to create a vendor credit. Today, in this article, we will be guiding you with the process to record refunds received from a vendor. The steps for recording a vendor refund in QuickBooks might vary in different situations. In case the customer used a credit card on a purchase, the user can refund a credit card payment on the sales receipt or invoice. Entering the refund usually depends on the recording process of purchase. The user is recommended to read ahead to record a vendor refund in QuickBooks desktop. To know more about recording a vendor refund in QuickBooks, the user can read this article ahead.

Or can also get in touch with our QuickBooks support team at our toll-free customer support number i.e. 1-844-521-0490, and leave the rest on our team of professionals.

Read Also: How to Install QuickBooks Desktop on a second computer?

Different conditions and steps to record a vendor refund in QuickBooks

You can choose the appropriate scenario and follow the recommended steps to record the refund in QuickBooks:

Case 1: Vendor sends the refund check for returned inventory items

The steps to record vendor refund in QuickBooks might vary for the situation when vendor sends the refund check for returned inventory items. This includes:

Recording a deposit of the vendor check

To record the deposit of the vendor, the user will have to follow the steps below:

  • The very first step is to move to the banking menu and then choose make deposits
  • And then, select ok, if the payments to deposit window appears
  • The user will then have to select the received from drop down menu, in the make deposits window. And also select the vendor who sent you the refund
  • Now, in the from account drop down menu, the user needs to select the appropriate accounts payable account
  • The next step is to enter the actual amount of the vendor check, in the amount column
  • After that, the user needs to enter the remaining information in the deposit
  • And lastly, select save and close tabs

Recording a bill credit for the returned item

Recording a bill credit for the returned item - Screenshot
  • To do this, the user needs to move to the vendors menu and also select enter bills tab
  • The user is supposed to select the credit radio tab to account for the return of goods
  • Followed by, entering the vendor name
  • And also, the user will have to select the items tab
  • Now, the user needs to enter the returned items with the same amounts as the refund check
  • Lastly, select save and close

Linking the deposit to the bill credit

  • In case of linking the deposit to the will credit, the user is supposed to move to the vendors menu and then choose pay bills
Pay Bills Option - Screenshot
  • The user is supposed to check the deposit that matches the vendor check amount
  • After that, choose set credits and apply the bill credit made earlier and choose done tab
  • The last step is to select the pay selected bills tab and then hit done

See Also: How to Transfer QuickBooks to New Computer?

Case 2: Vendor sends the refund as a credit card credit

Another case can be when the vendor sends the refund as a credit card credit. This involves the steps below:

  • For this, the user is recommended to navigate to the banking menu and then choose enter credit card charges
  • After that, the user will have to choose the credit card account from the credit card drop down
  • Now, the user is supposed to select the refund/credit radio tab
  • Followed by selecting the appropriate vendor name and then enter the date, ref no, and amount
  • The next step is to enter an appropriate memo to describe the transaction
  • Once done with that, select the item tab and enter the items and amounts from the refund
  • After that, in case the refund
  •  doesn’t have items, then the user is supposed select expenses tab and also choose appropriate accounts and enter the amount
  • The last step is to select save and close tab

Case 3: Vendor sends a refund check on behalf of the original vendor

Creating a deposit for the vendor who sent the refund check

  • The very first step is to move to the banking menu and then choose make deposits
  • After that, in case the payments to deposit window appears, then the user needs to hit ok
  • Now, in the make deposits window, choose the received from drop down and also select the vendor who sent the refund
  • The next step is to select the accounts payable account, in the from account drop down
  • Once done with that, the user is supposed to enter the actual amount of the refund, in the amount column
  • Later on, enter the memo, check number, payment method and class
  • Lastly, the user will have to select save and close

Creating a bill for the amount of the deposit and apply it to the deposit

  • The user is supposed to move to the vendors menu and then choose enter bills
  • After that in the vendor field, and also choose enter bills
  • Now, the user is required to enter the amount of the refund in the amount due field
  • The next step is to select the expenses tab
  • Also, in the account field, the user will have to select a wash account
  • And enter the amount of the refund, in the amount field
  • Once done with that, the user needs to choose save and close
  • The user will then have to move to the vendors menu and then select pay bills
  • And also, select bill and select set credit
  • Now, select the credit and select done
  • The last step is to select pay selected bills and then choose done

Creating a credit for the original vendor

  • For this, the user needs to move to vendors menu and then choose enter bills
  • After that select the credit radio tab
  • And also, in the vendor field, the user will have to choose the vendor who sent the refund
  • Now, in the credit amount field, the user needs to enter the amount of the refund
  • Choose expense tab
  • And, in the account field, and select the account used to the original bill
  • Followed by in the amount field and then enter the amount of the refund
  • The last step is to select save and close

Creating a boll for the amount of credit affecting the wash account and apply the bill to the credit:

  • The user is supposed to move to the vendors menu, and then choose enter bills
  • And also, select the vendor who sent the refund
  • Now, enter the amount of refund
  • And also, select the expenses tab
  • After that in the account filed, the user is recommended to select a wash account
  • In the amount field, and enter the amount of the refund
  • The user is required to select save and close
  • Followed by moving to the vendors menu and then select pay bills
  • Once done with that select the bill and choose set credit
  • Also, select the credit and select done
  • Lastly, select pay selected bills and then click on done

Also Read: Learn How to Rebuild QuickBooks Data Files

Case 4: Vendor sends the user a refund check for a bill that is paid already

Recording a deposit of the vendor check:

  • The user is supposed to move to the banking menu and then choose make deposits
  • After that, in the payments to deposit window, select OK tab
  • Now, in the make deposits window, the user needs to select received from drop down and choose the vendor who sent you the refund
  • The next step is to select the appropriate accounts payable account in the amount column
  • Followed by, entering the actual amount of the vendor check
  • And lastly, enter a memo, check number, payment method, and class
  • And also, select save and close

Recording a bill credit for the refunded amount

  • The user supposed to select enter bills from the vendors menu
  • And choose the credit radio tab to account for the return of goods
  • Followed by entering the vendor name
  • The next step is to select the expenses tab and then enter the accounts on the original bill
  • After that, in the amount column, the user needs to enter the appropriate amount for each account
  • And lastly, select save and close

Linking the deposit to the bill credit

  • In this method, the user needs to select pay bills from the vendors menu
  • And also check the deposit that matches the vendor check amount
  • Also, choose set credits and apply the bill credit and hit done
  • The last step is to select pay selected bills and hit done tab

Check this Also: How to Troubleshoot the QuickBooks Error Code 61?

Final Words..!

We believe that the steps mentioned in this article might help you in recording a vendor refunding in QuickBooks desktop. However, in case of any query or if you are stuck at any point of time, then in that case, you can get in touch with our toll-free customer support number i.e. +1-844-521-0490.

Our QuickBooks enterprise support experts and certified accounting professionals will ensure to provide the best possible support services instantly.

 

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