What is the process for a QuickBooks refund from vendor if he sends a check?

edited January 2023 in General

A. If a vendor sends you a check for the amount that is already paid then do this in QuickBooks refund from vendor to store:-
Open the Banking option and select “Make Deposits.”
Select “Make Deposits Window” and select seller delivered refund under the drop-down menu of obtained.
Now, select your account and enter the amount of the check.
Click the save button after filling in all the details.
After performing these steps you can store the refund record in QuickBooks.
https://www.quickbooksphonenumber.com/blog/record-vendor-refund-in-quickbooks-desktop/

Comments

  • The vendor sends you a refund check for a bill that is already paid
    Record a Deposit of the vendor check:
    Go to the Banking menu, then select Make Deposits.
    If the Payments to Deposit window appears, select OK.
    In the Make Deposits window, select Received from the drop-down and choose the vendor who sent you the refund.
    In the From Account drop-down, select the appropriate Accounts Payable account.
    In the Amount column, enter the actual amount of the Vendor check.
    (Optional) Enter a memo, check number, payment method, and class.
    Select Save & Close.

    Record a Bill Credit for the refunded amount:
    From the Vendors menu, select Enter Bills.
    Select the Credit radio button to account for the return of goods.
    Enter the Vendor name.
    Select the Expenses tab and enter the Accounts on the original bill.
    In the Amount column, enter the appropriate amount for each Account (the amounts may have to be prorated).
    Select Save and Close.

    Link the deposit to the Bill Credit:
    From the Vendors menu, select Pay Bills.
    Check the Deposit that matches the Vendor check amount.
    Select Set Credits and apply the Bill Credit you created earlier then select Done.
    Select Pay Selected Bills, then select Done.

    Greetings,
    Peter

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