An excellent method to record vendor refund in QuickBooks desktop

QuickBooks desktop users can record refunds from vendors. To correctly record the refund in QB, you need to choose the appropriate scenario & perform some necessary steps for recording the refund in QB.

Method 1- Seller sends you a refund check for the bill paid

  • You need to record the deposit of the seller check-
  • Then you need to go in the banking menu & tap on the make deposits option.
  • After that, you will see the payment to deposit windows, then you need to click on OK.
  • Then, you have to go in the make deposit windows, tap on the received from the drop-down & select the seller who has sent you the refund.
  • Now, in the from account drop-down, you should select the correct accounts payable account.
  • Then go in the account column, also, you need to fill the exact value of the seller check.
  • You have to enter the memo, and the check number, payment order, & the class though this is optional.
  • At last, tap on the save & close option.

2- you should keep a record of all the bill credit for the refunded value-

  • Click on the seller menu option & choose enter bills section.
  • Then choose the “credit option button” to estimate for the replacement of goods.
  • Then you need to enter the name of the seller.
  • Also, tap on the expenses tab & you have to enter the accounts in the initial bill.
  • Tap or click on the amount column, then you need to write the correct amount for every account.
  • Tap on save & close.

3- Submit the link to deposit the bill:

  • Click on the seller menu, and choose the pay bills.
  • Also, you need to verify deposit which should match the seller check amount.
  • Choose “set credits” & use for the bill credit you generated previous then tap on done.
  • At last, you have to tap on the pay chosen bills and tap on done.

Method 2- Seller sends you a refund check for the refunded inventory products

  • You need to keep the deposit of the seller check.
  • Then you will see the payment to deposit windows will appear, then tap on OK.
  • After that, you need to go in the make deposit windows, tap on the received from the drop-down & choose the seller who has sent you the refund.
  • Now, you need to go from the account drop-down, choose the correct accounts payable accounts option.
  • Click on the amount column, and enter the actual amount of the seller check.
  • Also, you have to enter all the remaining info in the deposit account.
  • At last, tap on save and close.

2- You have to record the bill credit for the refund products:

  • First click on the seller menu, choose to enter bills option.
  • Choose the credit option into the account for the refund of items.
  • Also, you have to enter the name of the seller.
  • Now,tap on the item tab, and enter the returned product with the similar value of amounts in the returned check.
  • Now, tap on the save & close option.

Hopefully, you will get the best steps to record the seller refund in QB desktop. In case, you are not able to do it, then you should make a call on support phone number for quickbooks online. The support team will offer you all the relevant information in a proficient manner.

Summary

In this post, you will get how you can record the seller refund in QB desktop. And what you need to do when the seller sends you a refund check for already paid bills. And for better info, you can make a connection with the support executives via support number.