How to Record a Vendor Refund in Quickbooks Online

How to record a vendor refund in Quickbooks Online. What happens when a vendor, instead of giving you a credit against a future bill, sends you the refund, either as a check or an electronic payment?
This video, how to record a vendor refund in Quickbooks Online, walks you through the steps of how to record it. It's tricky too because if you do not record the vendor refund in Quickbooks Online correctly, you may never see the vendor refund in the vendor transaction history. But the steps in this video outlining how to record a vendor refund in Quickbooks Online, show you not only the steps involved but also the order in which you should enter them.
Learn how to record a vendor refund in Quickbooks Online the right way with this video.

[@QbuniversityOrg]

Master Quickbooks Online in 4 easy steps - www.QBUniversity.org/Masterclass

[@Boredomdocters]

Great video man! You're a lot more personable than most of the Quickbooks tutorial makers I've seen.

[@QbuniversityOrg]

Awesome thanks so much!

[@judyhogan5352]

Wonderful step by step instructions AND the purpose of each step. Thank you

[@meloniestall7932]

To clear the credit, I had to 'Pay Bills' to offset the credit against the Account Payable item so it was not showing up on my 'Unpaid Bills' Report.

[@John-jy5zc]

Nicely done. Great instructions and now moving forward again!

[@QbuniversityOrg]

Thanks!

[@iskiwaggs]

Excellent, clear explanation . . . . .Thank you!!!

[@marcrfuller]

Thank you. This was so much more helpful than QuickBooks support.

[@QbuniversityOrg]

You’re welcome!

[@user-dx4zw3tt3l]

I followed the steps in the video. What are the next steps for categorizing the transactions that are waiting to be reviewed?

[@khemaloving4031]

This really helps

[@QbuniversityOrg]

Awesome!

[@TheresaMorris-np9nm]

I followed this and mine shows a overdue amount under the vendor name but not under the list of vendors, it is zero on that screen but not within the actual vendor itself.

[@noemir8262]

How would I enter a deposit from personal account to business? Do you have a video on that? Due to late customer payments we've had to borrow from personal to process payroll.

[@QbuniversityOrg]

I do have a video on that. Make a liability account called Loan from Owner and deposit the money to that account.

[@user-xv9bx9jn1u]

The problem is that when I do the Vendor Credit and then the Bank Deposit, Quickbooks deducts the refund from the vendor account twice.

[@TheChristineBabb]

This happened to me as well - I ended up deleting the Vendor Credit; the Bank Deposit transaction remained on the vendor account and canceled out the original payment.

[@nujara20]

what i did, i hot to the vendor, i Make Payment ticking off the deposit and the supplier credit. Then i can now match both money in and out from the bank feed.

[@Ashley-ek5kp]

I followed these steps exactly and now it shows the amount of the credit as an Overdue balance when I look at the vendor in Quickbooks instead of showing zero like yours does.

[@jannetefernandez5389]

mine does too. have you found a solution?

[@carolannlyons]

@@jannetefernandez5389 @Ashley-ek5kp Mine did as well. I found a comment by @meloniestall7932 that said, to clear the credit, use "Pay Bills" to pay that expense. The credit in the account will offset it, and both items will properly zero out.

[@fluffhead74]

Very helpful. Thanks. My refunds still appear under bank transactions ‘for review’. Do I also need to ‘confirm’ bank transaction?

[@mellissabreneman8335]

Mine was removed when I followed his steps

[@mkarow]

I ran into the same issue the check that was deposited remains in my to be approved bank transactions

[@affordmore9654]

What if the credit was sent back to the credit card used at time of purchase?

[@ingeniumcapital4491]

Great Point! If you use the "Cash back goes to" option, in addition to everything mentioned in the video, and select the Credit Card that received the credit it will show up as a match!! I could not find anyone addressing this exact option, as of this post, but it worked!!