You're already on the right track! I'm here to help you record a refund in your QuickBooks Online(QBO), annette23.
Once you got the refund. Simply follow these steps:
- Select + New and click Bank Deposit.
- In the Account drop-down menu, select the account where you got the refund.
- Under the RECEIVED FROM column, choose the vendor who gave you a refund.
- In the ACCOUNT column, select Accounts Payable. You need to pick this account so you can tie the refund to the vendor credit.
- Enter the method your vendor used to refund you and the amount.
- Click Save and close.
If it is a security deposit, you can write a check or expense to record the refundable security deposit. Here's how to do it:
- Go to the + New option at the top left to write a Check or Expense.
- Enter the necessary information.
- In the Account details section, select the liability account you use for security deposits from the Account column drop-down.
- Hit Save and close.
Once done, you'll need to create a service item that you'll use to enter an invoice for the portion of the deposit you are not returning. Check out this article and proceed to Steps 3-5 for further guidance: Refund a security deposit.
I'm adding this article for more guidance on this process: Enter a refund from a vendor.
Please let me know if you need clarification about this, or there's anything else I can do for you. I'll be standing by for your response. Have a great day.
