I'd be glad to help you show the product invoices and remove it from inventory in QuickBooks Online (QBO), ksottile.
First off, let's create a Credit Memo to show the customer's returned item. You can make the same item with the same quantity. Here's how:
- Select +New on the left panel.
- Select Refund receipt or Give refund.
- Scroll down the Customer dropdown, then choose the customer you want to refund.
- Select the Refund from dropdown, then select the bank you deposited the payment for the invoice to.
- Add all products or services the customer returned in the Products/Service column.
- Make sure to fill the date, quantity, rate, amount, sales tax, and other fields accordingly, then select Save and close.
If you want to give a partial refund to a customer, only add the items or amount you want to refund.
Once done, we can now record a Vendor Credit using the same item and quantity to show that it's been returned to the vendor.
To do this, please follow these steps:
- Click + New and select Vendor credit or Receive Vendor credit.
- In the Vendor dropdown, choose your vendor.
- Enter the Category or item details depending on how you record purchases with this vendor.
- Most of the time, this is the category, product, or service you're getting credit for.
- Once done, click Save and close.
If you're still having a hard time, you can still reach out to your accountant for more alternatives.
Lastly, I've added this article in case you need assistance recording a credit from a vendor: Enter vendor credits and refunds in QuickBooks Online.
Feel free to reach us again if you still have queries about invoices and inventory in QBO. We're always here anytime. Stay safe.
