We often get asked how to account for a refund on QuickBooks, so here is a handy guide to making sure your QuickBooks accounts accurately reflects the information.
- Refund a customer for your goods and services
Watch the video below to find out how you can enter a refund on your QuickBooks account or contact us to find out more.
- Refund from a supplier – several steps involved:
- you’ll need to create a credit note from the supplier using account details as on the original bill ( eg telephone costs)
- Then record the money received as a deposit into the relevant bank account, from the supplier using the account ‘Creditors’ or “Accounts Payable” ( whichever is used on your file) to record the receipt.
- Then go to ‘pay bills’ and click on the relevant supplier, and the credit note and refund will be matched up.