Correctly allocating cash refund from a supplier
QuickBooks UK : Pro 2012Hi,
I’m running Quickbooks Pro 2010 and have a problem with receiving a cash refund from a supplier.
The item in question was purchased about 6 months ago and was refunded after it developed a fault. The supplier has refunded me the cost of the item however I’m having trouble entering this into Quickbooks.
I can create a credit but this shows as a credit on that supplier’s account which is no good. I also tried recording it as a cash deposit from the supplier but in both circumstances, this did not show as me receiving a refund and as such it did not amend my VAT etc accordingly.
The only work around I have managed to find so far is to create the supplier as a customer and then bill them for the amount of the refund and then mark that bill as being paid.
I’m sure that that is not the correct way to do it and if anyone can tell me how I should do it I would be very grateful.
Many thanks,
