Trinitylan

Are you looking to learn how to receive and record a Vendor Refund In QuickBooks? If it is really so, then follow the guidelines mentioned below:

·       Using the deposit screen, navigate to the ‘Receive from’ field

·       Now, enter your vendor name

·       In the ‘From Account’ field, make accounts payable

·       Note the amount, press ‘Save’, and close.

·       Enter a bill credit now.

·       Open bills; mention properly the vendor name, amount, date, and memo.

·       In the ‘Account’ field, make sure the expense account offsetting is set as the original bill.

·       ‘Save’, and close.

·       Access ‘Pay bills’ and find the vendor.

·       Go to the ‘Set Credits’ section and apply for the bill credit as created. Press ‘Done’

·       Click ‘Pay Selected Bills’ and ‘Done’ consecutively.

These are the actual procedures for finding and entering vendor refunds in QuickBooks.