Deposit a refund from a Vendor in QB

Enter a credit from a vendor (if one does not already exist):

   1. Select the Vendors menu and select Enter Bills.
   2. Select the Credit option in the Enter Bills window.
   3. Enter the necessary information in Vendor, Date and Credit Amount fields. (You may also enter enter a reference number if you want to track credits by number.)
   4. Enter on the Expense or Item Tab exactly as the original bill was entered, using Inventory Items or including Customerjob and/or class if applicable.
   5. Click Save & Close.

Deposit the refund:

   1. Select the Banking menu and select Make Deposits.
       2. If the Payments to Deposit window does not pop up skip to step 5. If the Payments to Deposit window opens, select the payments you would like to deposit and click OK.
       3. In the Make Deposits window, select the account you would like to deposit into.
       4. Click anywhere below the last payment in the list to add an entry.
   5. In the Received From column, enter the name of the vendor from whom you received the money.
   6. In the From Account column, select Accounts Payable. (This will create a vendor bill that you will use later.)
   7. Enter a memo, the check number if you received a check, and the method of payment such as a check, or credit card.
   8. Enter the amount. If you use classes, enter the class for this deposit.
  
   
Apply the vendor credit to the vendor refund:

   1. Select the Vendors menu and select Pay Bills.
   2. The vendor refund you deposited will appear as an open bill in the Pay Bills window along with any other open bills. Click to the left of the bill to place a checkmark.
   3. Click Set Credits.
   4. Click to select the credit(s) you want to apply to the bill (refund), and then click Done. The amount to be paid is reduced by the amount of the credit(s) applied or paid in full if that is the case.
   5. Click Pay & Close.

Or if this needs to be job costed you can also

1. Set up a bank account called "Adjustment Register" or whatever makes sense to you. 
2. Go to Banking>Write Checks and enter an "Other Name" Type called Vendor Returns to Credit Job Cost (as an example)
3. On the Expenses Tab enter your bank account that the refund will be deposited to
4. On the Items Tab enter the Items returned exactly as on the bill and enter the Customer:job name with the amount being negative
This will create a zero amount check, post the deposit and credit the job cost.