QB Issue Resolution:

You can record a vendor refund, The_tile_setters. This will help you handle the refundable item properly. I’ll guide you all along.

 

First, you’ll have to record a deposit for the refund check. Here’s how:

  1. Click Banking, then select Make Deposits.
  2. Click the Deposit To drop-down arrow, then select the bank account.
  3. Under RECEIVED FROM, select the vendor.
  4. Under FROM ACCOUNT, select Accounts Payable.
  5. Enter the refund amount in the AMOUNT field.
  6. Click Save & Close.

Next, record a bill credit for the returned item. Here’s how:

  1. Click Vendors, then select Enter Bills.
  2. Select the Credit radio button.
  3. Select the vendor name.
  4. Enter the returned item with the same amount as the refund check.
  5. Click Save & Close.

Lastly, link the deposit to the bill credit. Here’s how:

  1. Click Vendors, then select Pay Bills.
  2. Select the deposit, then click Set Credits.
  3. In the Apply Credits window, select the credit created earlier.
  4. Click Done, then select Pay Select Bills.

I’d like to share a reference about recording a vendor refund to better guide you.

Resolution for Issue 'Refundable deposit for Tool' available: Yes (Solved).
Source: Intuit Community forum.

Refundable deposit for Tool: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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