How to Record a Refund from a Vendor or Supplier - QuickBooks Online Tutorial

[@luckyselome8114]

simple, straight and foward after struggling for 6 months...

[@jzamans]

thank you for this it was far easier than what qbo itself was telling us

[@transportationpermitting4145]

Dude. Thank you for this. I've been trying to figure this out for 3 days, even on the phone with QB support for 3 hours & they had no clue.

[@andyphun2008]

It's taken me about 2 hours to get my head around this but I've finally done it. Many thanks for such a helpful video!

[@0808chiki]

Same here! Thanks for this helpful video! I kept seeing other videos but it wouldn’t report it properly to the customer for which the vendor performed the job! This IS the correct way! Thanks so much!

[@chewie1355]

I'm not the only one but I got it as well.

[@Mrsdevsgirl]

Thank you, this is exactly what I was searching for, others were applying the credit to other bills and I didn't need that. Thank you very much.

[@tpmbe]

Accounting in quickbooks seems to be very convoluted to do very simple things like a refund , only with your help now I see how difficult it is without knowing all the steps beforehand I would never have a clue , literally there are multiple steps just to process a simple credit

[@ISharrem]

Thanks so much for this. We often have to pay for services that require a bond - venue hire for example. The hire is paid upfront and then after the event the bond is refunded. This is by far the best explanation I have come across to date to process the bond refund. Thanks once again!

[@darinjorgensen7700]

This helped so much. I am sure I will be looking you up again for help. I am new with QBO and this was a life saver.

[@chris_grimley]

Great vid - very helpful for processing my first vendor refund! In QBO there isn't a vendor credit, nor can you do a bank deposit to a credit card (and there doesn't seem to be a credit card credit). To get around these issues (and for other purposes), I have an account in QBO for "suspense" items. I completed a supplier credit process. Then posted the Bank Deposit to my "suspense" account. Then processed a journal entry to move the amount from my suspense account to the credit card. It's a bit of a roundabout way of getting there but it worked.

[@smilemtb2]

Thank you! This was very helpful and very clear and easy to follow!

[@firstclasstaxsolutions9758]

Thank you for the kind words! Have a beautiful day!

[@shanasavage7450]

AMAAAZZZIIINNNGGGG!! We have been at this literally for days and you helped us in 10 mins!!!! We can't thank you enough! ❤️❤️❤️

[@kkmck4686]

Thank you so much for getting right to the point and doing it quickly

[@ericdales5023]

Thanks for the vid - In my case I was getting the message on the third step (expense/cheque) "You cannot add a credit for a supplier without any open bills". The fix was the use "accounts payable" as the account on the deposit (step 2). After making A/P the account, both the supplier credit and deposit were able to be added to the expense/cheque.

[@khawajadanishaltaf1847]

Had been looking for a solution to this. Thank you so much. The last part open bill could not understand.

[@FnRockstar85]

Great video. Direct and to the point. Thank you!!!!

[@charlesgibbs8986]

Awesome- I wish I had learned this in class. It would have saved me sooooo much time.

[@NealD]

Excellent video! Thanks for the great explanation! I'd enjoy seeing one that helps deal with an open balance.

[@bushrajadoon6507]

Thanks for this wonderful video. It helped me alot in managing my refunds. Great job.. I am a Big Fan now:)

[@christopherscott9523]

😇😇😇 jesus

[@christopherscott9523]

😇😇😇 humble

[@MarcusIsaac]

This was a very helpful video. Thanks!

[@etanmatt]

Thanks a lot for the help

[@hepvideo3907]

Thank you for the information you gave me. I have completed all the steps in creating the vendor credit but in the last step I created a bank deposit the open balance in the vendor account closes but at the same time it is over due it might cause you.

[@stephaniemoorewhite5616]

Perfect, thank you!

[@tpmbe]

Very good video, thank you for sharing this information

[@Khujandiho]

Thank you!! great job

[@alinesim7435]

Thanks so much for your help!

[@williancabido5155]

Thanks for the tutorial.

[@FamilyTV-qz4dd]

Thank you for the great and clear cut video! I still have the issue that the credit amount is still reflecting under the customer....

[@GrasshopperGardenServicescouk]

Hi. I have the same problem. did you find a solution

[@MasterVortex555]

Very helpful

[@ChelseaHopeHTX]

Thank you for the helpful video! Do you know how one would match the receipt for the refund/return? We have a receipt submitted for a vendor refund but the system won't match it even after it's been matched in "for review".

[@fatmamuhammad7642]

I have a more complex issue. I buy a product from a vendor who has uniform price for all customers. But later a credit note is issued to me where i use it for subsequent orders. I pay full. I dont know how to go about the recording in quickbooks.

[@madzgp]

What if the refund is made is credit card. The credit card is not showing in Bank Deposit Account

[@anthem456]

Can I book a one on one session. I have this exact problem and followed the steps. I'm not getting the results in the video.

[@rozaachour9127]

Thanks

[@brianthornton6008]

Thanks for the great tutorial. Is it necessary to create a bill to pay a vendor? I have been printing checks to the vendor under new transactions without creating a bill. I have recently received a refund check back from vendor and trying to figure out if I should have generated a bill based on your directions. When I created the deposit, my overdue amount went from $0 to the refund amount. What did I do wrong?

[@firstclasstaxsolutions9758]

Thanks for the question Brian. No, it is not necessary to create a bill to pay a vendor. You can just cut a check that is fine. When you create the Vendor Credit transaction and the deposit you should get back to zero. Let me know if you have any questions.

[@castksa]

Hello I'm using QuickBooks online how can I do discount from my vendor( discount given)

[@jackiemunger4822]

Thanks for the video! Will this work if the vendor's check was deposited as a part of a larger deposit? (Multiple checks from customers plus the one from the vendor.)

[@matthewallmark7275]

My quickbooks version doesn't support vender/supplier credits. Is there another way?

[@dominiquecarlson5108]

Does this method apply to vendor credits to purchases made a year earlier, and/or if the bank/CC accounts have been reconciled? Thanks!

[@christopherwright4933]

A lot of people (myself included) seem to be having the same issue after following this tutorial, i.e., that the credited amount now shows as an overdue amount due to the vendor. Can the author please answer the question of how to fix this or advise us as to what we're doing wrong? Thanks!

[@suevine7207]

Same here, did you find out a solution?

[@heir__]

Thank you

[@gladwellchege2233]

i have been trying to allocate open credit to a debtors invoice in quickbooks everytime i try my quickbooks hang and i have to close it what can i do since when i go to my ageing and customer balance summary the reports are different since i use quickbooks multicurrency and this specific client transaction is not in home currency please help.And when i match other clients quickbooks responds.

[@sammyschlie4867]

After I did as your video instructed, on the vendor page it is showing "Over Due"?? In the Vendor transaction list, it shows a Vendor Credit and a deposit. Thank you

[@GrasshopperGardenServicescouk]

Hi. I have the same problem. did you find a solution

[@epc924]

thank you for your great video. I follow the exact steps but after I created a vendor credit, on the vendor page it shows a negative balance. then i receive the refund from the vendor. so I record it as bank deposit. it shows another negative balance again. then after I am done with all the steps, I have a balance shows overdue on the up right hand side corner. I am confused and have no idea what's going on?!?

[@charlesgibbs8986]

I am having the same problem. Any suggestions?

[@C2Miami]

same problem I'm having as well... any luck?

[@leonidgori3092]

kzbin.info/www/bejne/oImUfpRsjL6Ajbc this video helped to deal with the refunds. now finally my vendor balance is not overdue.

[@C2Miami]

Hey! Question: I did everything exactly like you... i checked multiple times to be sure. Now my Vendor show my refund amount as an overdue amount, instead of a credit. I'm confused... what did i do wrong??

[@thehousemanager2370]

Me too. Did you figure it out?

[@stefaniemurrer2614]

Do you know how to do this in the QBO app?

[@firstclasstaxsolutions9758]

+Stefanie Murrer Unfortunately, the QBO app does not have an option to create a vendor credit. They are constantly updating this application, so perhaps in the near future they will add this functionality.

[@luzteresavaquera-duque718]

what if the refund was done with a Credit Card?

[@firstclasstaxsolutions9758]

+Luz Teresa Vaquera-Duque Hi, if the refund was issued to a credit card then after entering the vendor credit, you would choose credit card credit rather than bank deposit and then make sure to choose the correct vendor and the account/item, date and amount. Then if you have the credit card connected with bank feeds, the transaction should match with what was downloaded. I hope the helps!

[@Calx9]

When I go to close the bill it doesn't apply the credit... it applies a payment to close the bill out. Thats not good. Anyone else having this problem?

[@Calx9]

Nevermind, I didn't apply a credit when I filled out the vendor credit. I accidentally left it zero.

[@robmelus1]

Brilliant, thank you!

[@annaprophete687]

Thanks

[@adamcarreon4899]

Thank you