I have received a refund for faulty work by one of my suppliers. Now I am not quite sure how to register that refund in Quickbooks. The initial payment I made to the supplier was registered as a normal cheque.
Any help would be appreciated.
Cheers.
The refund should reduce the original expense. Sales tax and/or VAT or GST may also be applicable.
initial
If I entered the original expense as a cheque, how do I enter the refund? I have to admit normally I only use cheques and invoices in Quickbooks, but obviously I cannot enter the refund as an invoice. And whatever I do I have to, as you said, reduce the original expense. So there must be some kind of connection between the refund and the expense.
Thanks for the help
What expense account did you use on the cheque? Enter the refund as a deposit "from" the same expense account. "Connect" the refund to the expense by referring to the cheque number and/or the supplier's Bill number in the deposit memo field, the supplier's name in the "Received from" field.
Quickbooks, but
cheque.
Just make a deposit and apply it to the same expense account that the check was charged to.
Toolbar - Banking / Make Deposit
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Will do. Thanks guys (also to John).
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