How do I receive a refund from a vendor


Important

The Refund dialog should only be used in cases when you've already made a payment for an invoice, the vendor has returned cash to you, and you've already entered it in Quicken as a credit from the vendor.

  • I want to download this payment to a vendor from my financial institution
    1. If you haven't already done so, issue the amount of the refund to the customer in credit.

    2. Download and accept the bill payment to this vendor into the checking, credit card, or savings account you use for this business.

    3. If necessary, in the Category field, select the account that you use to track the customer's bills. You may need to click the Transfer tab on the left to see the available accounts.

    4. Open the account that you use to track this customer's bills.

    5. Select the refund transaction, and then double-click the word --Form-- in the Category field.

    6. In the Outstanding Bills area, select the bill that this payment applies to.

    7. Click Save.

    • What happens next?
      After you enter the refund, Quicken updates your accounts payable register and records a deposit in the bank account you selected.
  • I want to manually enter this refund from a vendor
    1. If you haven't already done so, issue the amount of the refund to the customer in credit.

    2. Open the account that you use to track this vendor's transactions.

    3. Click  (the Account Actions icon), and then choose New Refund.

    4. In the Refund dialog, in the Account to deposit to field, select the account where you want to deposit the refund.

    5. In the Business Tag field, select the tag for the business this refund is for.

    6. Enter the vendor's name and the amount of the refund.

    7. Click Assign Project/Job to display the Select Project/Job dialog box. Here you can select the project/job for which you purchased goods or services from the vendor you need to pay. If you need to create a new project/job, click New and fill out the New Project/Job dialog box. (Optional)

    8. If the refund was in the form of a check, enter the check number for tracking purposes. (Optional)

    9. The memo is for your use only. Use it to enter additional information about the vendor, or as a reminder about the reason for the refund. (Optional)

    10. Click Save.

    • What happens next?
      After you enter the refund, Quicken updates your accounts payable register and records a deposit in the bank account you selected.

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