I have in Banking an account “Credit Notes/Refunds” in the Equity Accounts section. This allows for posting of credit notes to this account prior to receiving the refunded funds on a credit card or through the current account or other. There are usually a few days between the date shown on a credit note to when the monies turn up in a bank account.
It also allows the facility to chase up a supplier if the refund has not been received, for example this happened when changing over from one Electricity/Gas supplier to another, but by holding the details in a separate bank account it was easy to see that a request was required to the supplier for the refund (4 months after receiving the credit note).
Usually the account will show as zero, if all credit notes have been repaid.