Hello there, mlowery.
I know how important for your business to be able to track the vendor refund. Let me guide you in the right direction on how to record the entry.
The process to input the refund depends on how you record your purchases. Since you’re using the Simple Start version, create a credit card credit to input the refund given by your business credit card.
Then, connect the account of the downloaded transaction to the expense account used in the original purchase. Doing so ensures you can match them in the For Review tab.
- Go to the New button to select Credit card credit under Vendors.
- Click the Payee drop-down and enter the correct name in the field box.
- In the Bank/Credit account field, pick the credit card account you received the refund.
- Select the date in the Payment date section.
- In the Category details section, choose the same expense account of your original purchase.
- Then, enter the amount.
- Click Save and close.
Next, update the downloaded credit adjustment from Uncategorized Asset to the expense account. Here’s how:
- Tap the Banking menu and choose the business credit card account.
- In the For Review tab, find and select the credit adjustment.
- Pick the expense account in the Category field.
- Click the Find match option and locate the credit card credit transaction.
- Then, click the box before the date and Save.
To help manage your downloaded transactions, see the following links. These resources provide an overview of classifying bank data and adding rules to online banking entries.
Reach out to me again if you have any clarifications or other questions. I’ll get back and answer them for you.
