Published By: John Doe
15 Nov 2019

How do you record bank fees refund in QuickBooks

There are various circumstances where you will need to record the refunds that you have received from the vendors. It can be refunded for the bills that you have already paid or refund for the inventory items that have been returned or the refund, which is not related to the exiting bill etc. One needs to record all these refunds on their QuickBooks, and if you are not able to do it on your own, then you have to take the guidance of experts. You can reach out to professionals by calling QuickBooks customer support number that stays put at all 24 hours irrespective time and location constraints.

record bank fees refund in quickbooks

How to record bank fee refund in QuickBooks?

Dive into the steps that you must follow while recording the refund for the bill that has been already paid.

1. Record the deposit of the seller's check

  • Go to Banking Menu > Make Deposits
  • When the window of Payment to deposits appear, click OK.
  • Now in the window of Make Deposits, click ‘Received from’ and select the vendor that has to send you the refund.
  • Select the appropriate count Payable information from the ‘From Account’ drop-down menu.
  • Enter the amount in the column provided and enter a payment method, memo, and check number if possible. Now save it.
  • 2. Record the Bill credit of the amount refunded

    • From Vendors menu, click on Enter Bills > Credit button
    • Now enter the Vendors name and then click on Expenses Tab
    • Here you have enter Accounts on original Bill and then enter amount in the respective column.
    • Click to save the changes.
    • 3. Linking of deposit and Bill Credit

      • Go to Vendors Menu> Pay Bills.
      • Here check the deposit that is matching the check amount of Vendor.
      • Click on Set Credits, then apply Bill Credits, and at last enter done.
      • Now tap on Pay Selected Bills followed by ‘done’ button.
      • If you got confused while executing these steps, then you need to reach out to QuickBooks technical support number to communicate with the professionals. This number stays available at all time to help the customers for fixing their issues and solving their queries.