I bought a spirit level from bunnings and had to return it because it wasnt' level. How to record the refund on my bank feed?

I'm far from a wizard with quickbooks but can do my own bank reconcile's and lodge my own BAS, this has me stumped though.. Do I deposit the amount to the account I originally recorded the payment from which was "supplies and materials" and what do I do whit the GST? I assume since I paid GST I would choose "GST on non-capitol".



Hi nathanminstalls,

Let me help you record a returned purchase items in your QuickBooks Online account and offset the transaction.

To offset the created expense, create a bank deposit and use the same account allocated to the created expense transaction. Also, If the refund returned the GST that was collected from the purchase, then use the same GST code used on the original expense transaction to offset the amount in the BAS.

Here's how to offset an expense transaction:

  1. Go to Plus icon (+) ad select Bank Deposit.
  2. Select the same expense Account, Amount and GST
  3. Enter the other needed information and click Save and Close.

Once done, run a Profit and Loss report then filter the date range when was the deposit created. Look for Expense and under Supplies and Material, if the Total amount shows as 0.00 then the transaction was successfully offset. 

Please feel free to drop a comment below if you've got more questions. I'll be here to help.

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