How to Enter Vendor Refunds in QuickBooks

Published 01/22/2010 |

Hi! I was wondering if you could answer my question about receiving payments for vendor credit memos. I use QuickBooks for my friend's heating/air conditioning business and he receives credits in his back account for supplies purchased. I do not know how to receive a payment for a vendor. I understand that I can do a credit memo for that vendor, but QuickBooks does not seem to let me apply a deposit to that vendor to match the credit memo. Please help!

Vendor credits are used for reducing unpaid bills. In your case, it sounds like you get a vendor refund after the bill's been paid. All you need to do to book a vendor refund is to enter the vendor information in the Make Deposit screen (Banking > Make Deposits). Enter the vendor in the Received From box, and enter the expense account you used when you paid the vendor in the From Account box.

You can’t enter a Customer: Job in the Make Deposit screen, so if you’re doing job costing you’ll need to enter a journal entry instead (Company > Make General Journal Entries). In this case, the debit would be to your checking account and the credit would be to your expense account.

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Ruth Perryman - QuickBooks Specialist Written by +Ruth Perryman, CMA, CFE, CFM, MBA

Ruth is the president of The QB Specialists, Inc. and has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.

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