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Learn QuickBooks Online Refund with These Simple Steps

QuickBooks Online Refund

QuickBooks online refund is a posting transaction used while paying back the customer money. That is, QuickBooks online refund is used to show that you have reimbursed the money back to the customer for a refund. The customer may ask for a refund if he/she is not happy with your services, overpaid for the services or to offset a credit balance.

 

How To Record A Refund In QuickBooks?

This portion of the article will guide you how to record refund in QuickBooks. QuickBooks refund from vendor will depend on various scenarios:

Case 1: QuickBooks Refund From Vendor- How To Refund In QuickBooks When The Vendor Sends A Refund Check/Cheque For An Already Paid Bill?

  1. Record the Deposit:
  • Go to Banking menu > select Make Deposits
  • Click OK on the Payment of Deposit section
  • Go to From Account drop-down > select Account Payable account
  • Type vendor check’s actual amount in the Amount section
  • Save & Exit
  1. Record a Bill Credit:
  • Go to Vendors > choose Enter Bills
  • Tick Credit radio button
  • Type Vendor Name
  • Open Expense Tab and enter Accounts
  • Type the amount for each account in the Amount section
  • Save & Exit
  1. Link the Deposit:
  • Go to Vendors > choose Pay Bills
  • Choose Set Credits > tick Bill Credits > Done
  • Select Pay Selected Bills > Done

Case 2: QuickBooks Refund From Vendor- How To Refund In QuickBooks When The Vendor Sends A Refund Check/Cheque For Returned Stock Items?

  1. Record the Deposit:
  • Go to Banking menu > select Make Deposits
  • Click OK on the Payment of Deposit section
  • Go to Make Deposits > select Received From
  • Go to From Account drop-down > select Account Payable account
  • Type vendor check’s actual amount in the Amount section
  • Go to Deposit > provide the remaining information
  • Save & Exit
  1. Record a Bill Credit:
  • Go to Vendors > choose Enter Bills
  • Tick Credit radio button
  • Type Vendor Name
  • Open Items Tab and enter returned items
  • Save & Exit
  1. Link the Deposit:
  • Go to Vendors > choose Pay Bills
  • Choose Set Credits > tick Bill Credits > Done
  • Select Pay Selected Bills > Done

 

Contact Us At QuickBooks Online Support ForFurther Queries Related To QuickBooks Online Refund

In business line, there may come a scenario when you will have to refund a customer. It can be anything regarding your services or the customer might have overpaid you. To maintain a healthy relationship with your customers, you will have to make sure that they are happy. If you have any queries regarding QuickBooks online refund, likehow to record a refund in QuickBooks, you can contact our QuickBooks Online Phone Support @ +18772499444. Our QuickBooks Online Customer Care @ +18772499444 is available 24/7 and our technical experts will guide you to process various QuickBooks operations with ease.

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