Refund from supplier

If the supplier has refunded you cash, then you can simply go to Bank accounts or Cash accounts tab to receive money. Allocate the amount to Inventory on hand account, then select inventory item for which you have received the refund.

Since you don’t want the inventory to be affected (you didn’t send back any goods), enter 0 into Qty column. This way your inventory on hand value will be decreased without affecting inventory count.