Running into this, it was a partial refund for a Target purchase using a business credit card. But would rather not create an account for the payee (Target?) just for this purpose, since there is generally no need to have them in the vendor list. 

In this case, the item had to be exchanged for a different unit of the same item. Target handles that by issuing a refund receipt, then you purchase the new item as if from scratch, it doesn't just apply the credit. Annoyingly, it ended up costing a penny more than was refunded, which might be a flaw in Target's POS software; if the amounts were exactly equal, we could just cancel them out rather than creating a vendor. Point being, the expenses aren't attached to Target (or other stores)--only do that for materials suppliers and such. So what other options are there?