QuickBooks accounting software allows users to record vendors’ refunds successfully by simply performing some basic set of steps. This feature makes things much easy and quick in QuickBooks. To learn the steps involved in the process of recording the refund in QuickBooks, make sure to read this post till the end. Or you can also connect with our team at +1-844-405-0907 and we will provide you with instant support services.
Steps to Record Vendor Refund in QuickBooks Desktop
The user can try to perform the below steps to record vendor refund in QuickBooks Desktop. The below steps can be performed when the vendor sends you a refund check for returned inventory items. Let us have a look:
- Record a Deposit of the vendor check:
- Here, the user needs to first head to the Banking menu
- After that select Make Deposits
- Now click on the ok tab in the deposit window
- After that, click on received from the drop-down and also choose the vendor who sent you the refund
- The next step is to choose the appropriate accounts payable account
- Now, in the amount column, the user is required to enter the actual amount of the vendor check
- After that, enter the rest information in the deposit account
- Also, click on save and close the window
- Record the bill credit for the returned
- Under this process, the user needs to choose the enter bills in the vendor’s menu.
- After that, the user needs to click on the credit tab to account for the return of goods
- Followed by entering the vendor name and also clicking on the items tab
- Once done with that, enter the returned items with the same amounts as the amount on the refund check
- Now, lastly, press save and close
- Link the deposit to the Bill Credit:
- Here, the user needs to head to the vendor’s menu and choose pay bills
- After that verify the deposit with the vendor check amount
- And also select the set credits and apply the bill credit made
- Now hit done and tap on pay selected bills and click on done
1. How to record a deposit of the vendor check:
- Banking menu >> Select Make deposits
- Select OK if the Payments to Deposits window comes
- Select the received from the drop-down in the make deposit window and select the vendor who sends you to refund
- Select the appropriate account payable account from the account dropdown
- The amount, column mentions the actual amount of vendor check
- Mention the remaining information in the deposit
- Save and close.
2. How to record a bill credit for the amount of vendor check
- Go to vendor menu >> select enter bills
- Select the credit radio button to account for the return of goods
- Mention the vendor name
- Select the expenses tab and enter the Accounts which you use for refunds
Read Also: Steps to Resolve QuickBooks Error Code 6144 82?
We end this post right here with the hope that the above information might be of some help in performing the procedure successfully. However, if there is any query or if the user requires any assistance, then contacting our QuickBooks enterprise support team at +1-844-405-0907 is recommended. We are a team of certified QuickBooks professionals who work round the clock in providing instant support services.
