Question

QuickBooks Online (QBCU) Session 4: Post Assessme

Answer 1

Hence, I don't really know since I'm NOT 21 Years Old. If you're trying to record a credit/refund for a returned item, you'll have to enter a deposit, then link it to the vendor credit.  

 

First, you'll have to enter the refund as a deposit. Here's how:

Click the Plus sign (+) icon.

Choose Bank Deposit.

Under Add funds to this deposit, choose the vendor name in the Received from field.

Choose Accounts Payable in the Accounts field, then enter the credit/refund amount in the Amount field.

Click Save and close.

Next, link the deposit to the vendor credit. Here's how:

Click the Plus sign (+) icon.

Choose either Expense or Check.

Choose the vendor name.

On the right pane, under Add to Expense/Check, add the deposit by clicking Add.

Click Save and close.

Though, if you want to apply a vendor credit to a bill, check this article for the steps (Scenario 2): Manage vendor credits.