How to record a rebate or refund in QM Mac 2006?

Greetings!

Occasionally I get a rebate or refund for something, and it is credited to the debit card I used for the original purchase. How do I record this income in QB?

As a non-accountant, I have worked around this by creating an invoice to match the refund, but it seems there must be a better way. Can anyone make a suggestion?

Thanks. BC

Reply to
BC Drums
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Just use the Make Deposits screen. I credit the expense account the debit originally came from (ie a rebate from Office Depot for a purchase I coded to office supplies would also be coded to office supplies to reduce that expense). Your accountant might prefer a different way but all of my accountants like having a rebate/refund go back to the original account the purchase came out of.

You don't have to have matching invoices for deposits nor do you need to have bills in order to write checks.

Reply to
Tee

I use a deposit for this situation. The "deposit" will match the credit on your bank statement. For the account to post it to, I use the same expense account that was used with the original purchase. ie Office Supplies.

Reply to
JohnLCI

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