how to receive supplier refund in the bank account

Hello there, Hetal.

You can enter the supplier refund as a Bank Deposit in QuickBooks Online (QBO) and assign it to the same category as the original transaction to ensure accurate recording and reflection in your accounts.

Here's how to create a bank deposit:

1. Go to the + Create and select Bank Deposit from the options.
2. Choose the bank account where the refund was deposited in the Account dropdown.
3. In the Add funds to this deposit section, enter the refund details, including the supplier name and amount received.
4. In the Account column, choose the same account where the original insurance payment was recorded.
5. Fill in the necessary information.
6. Once done, click Save and Close.

This approach ensures that the refund is accurately recorded in the Bank Register and offsets the original Insurance Expense. Assigning the refund to the same category as the initial transaction maintains accurate financial records.

Feel free to revisit this thread for any follow-up questions.