How to Record vendor Refund in QuickBooks Desktop?

Record Vendor Refunds in QuickBooks Desktop

In QuickBooks, you may enter a vendor credit to record all returns and refunds from vendors. A vendor might supply you all credit document but it indicates that no information is available related to your vendor’s credit document. No need to worry, here you get all possible solutions regarding this issue.

How to Record Vendor Refunds in QuickBooks desktop?

Simple Steps To record a deposit of a vendor, you must follow these steps:

  • Go to the banking menu then click on the Make Deposits.
  • On your open window, if deposits payment appears then click OK.
  • After that, click on the Received from the drop-down and select the vendor which sends you a refund.
  • Choose the correct accounts payable via from accounts and then enter the actual amount of vendor check in the accounts column.
  •  In the end, save & close.

To save a bill credit for the refund account, you need to follow these steps:

  • Go to vendors menu, choose to enter bills and go with a credit radio button to account.
  • Enter the vendor name and then click on the expenses tab.
  • After that, enter the accounts on the original bill and then enter the appropriate amount in each account,
  • Then click on the Save & close.

To link the deposits to the bill credit, you must follow these steps:

  • Go to the Vendors menu and select the pay bills.
  • After that, check the deposit that matches with vendor’s check amount.
  • Select all the set credits and apply on all bill credit you created then click done.
  • After that, click on Pay selected > done.

How Vendors Send you the Refund as a Credit Records?

  • Go to the Banking menu, select the Enter Credit Card Changes.
  • Choose the credit card account from the credit-card drop down and click on the Refund/credit radio button.
  • After that, select the correct vendor name and enter the amount, date and reference number.
  • To view all the transactions, enter the correct memo.
    If you want to refund the products, click on the product tab and enter the product name and total amount from the refunds.
  • If you are not able to refund products, click on the Expenses tab and go with an appropriate account and enter the refund amount.
  • Then click on the Save & close.

Contact AccountsPortal Customer support

After all this assistance if you still face any issue or any query in your mind regarding QuickBooks, you can directly connect with our QuickBooks customer team via customer helpline number +1800-796-0471 or send an email at our official mail address webmaster@accountsportal.co. For instant solutions, you can chat with us via LIVE CHAT, the link icon is given at the right corner of our official website.