If a refund from a vendor is automatically populated under the "Banking" tab and the "For Review" section as an "Uncategorized Expense," wouldn't it be easy to just put it under the same expense category under which the purchase was made?
For example: an item purchased for inventory for $20 is categorized correctly in QBO as "Cost of Goods Sold." For whatever reason, the item is returned to the vendor. The vendor then issues a refund of $20 to the same credit card used to purchase the item. QBO downloads the refund automatically but leaves it as an "Uncategorized Expense." Is it correct to simply categorize the refund under the "Cost of Goods Sold" category rather than creating a Credit Card Credit or Vendor Credit, thus creating multiple transactions that inflate the books?
I look forward to your answer.
