Thanks for joining the thread, EdwardSam.
I'm by no means an accounting professional, but I do have some information to provide that can help get you on the right track.
To clarify, when you received the refund check, was it deposited to your bank account, or was it returned to your credit card account? If it was deposited in your bank, then you could follow the solution that you've suggested.
However, if it's the latter, then it would be better to record a Credit Card Refund/Credit instead. That being said, you'll need to set the insurance company as a vendor, then follow the steps below:
- From the Banking menu, choose Enter Credit card Charges.
- Make sure to select the correct Credit Card account.
- Enter the insurance company in the Purchased From field.
- Select the Refund/Credit radio button.
- Enter all the necessary details such as the Date, Expense account, and Amount.
- Click Save & Close.
For additional insight about this, I'm also including this article: Set up, use, and pay credit card accounts
Let me know if this isn't quite what you're looking for, I want to make sure this is taken care of. Have a great day!
