How do I record the refunds I receive from vendors?

If you’ve made an excess payment to a vendor and the vendor refunds a part or the entire excess payment, you can record the refund under Payments Made. To do this:

• Go to Purchases on the left sidebar.
• Select Payments Made.
• Select an excess payment.
• Click the More button in the top top right corner.
• Click Refund.
• Enter the Amount, select the Refunded On date, and select the To Account.
• Click Save.

The refund will now be recorded under Payments Made.

If you return goods or services to a vendor, or if you cancel an order, the payment that you made for your purchase can be recorded in the form of vendor credits, and you can apply it to your bills in the future. However, if you’ve requested a refund and the vendor has issued it, you can record it as a refund after creating the vendor credit. Here’s how:

• Go to Purchases on the left sidebar.
• Select Vendor Credits.
• Select a vendor credit.
• Click the More button in the top right corner.
• Click Refund.
• Select the Refunded On date, enter the Amount, and select the To Account.
• Click Save.

The refund will now be recorded under Vendor Credits.