Void or refund credit card payments in QuickBooks Desktop
When you need to refund, void, or delete a transaction and your QuickBooks Payments account is linked to your company file, it is best to do so within QuickBooks, so that the transaction information integrates with other related data.
Definition of terms
Refund: occurs AFTER the batch has closed for the original transaction
Void: occurs BEFORE the batch has closed for the original transaction
Reverse, Credit: A global term that describes a Refund or Void depending on whether the batch has closed for the original transaction
Credits or refunds are applied to the cardholder's credit card after the batch closes however there may be some additional time before the cardholder see the credit due to the card issuing bank procedures.
Voids are applied instantly and do not charge the card however an Authorization Hold may occur due to the card issuing banks procedures. The cardholder will need to contact their bank to remove an Authorization hold of this occurs.
Credit Card Refunds are subject to the following limitations:
Processed on the same Merchant Account/Company Auth ID combination as original sale.
Within rolling 6 months of the original transaction.
Refund issued to the credit card used on original sale.
Refund amount should be for no more than the total amount processed on card.
Process a refund
Open your company file.
From the QuickBooks Home screen, click the Refunds and Credits icon.
In the Customer Credit Memo screen, enter the appropriate customer name and amount to be refunded.
Click Save & Close.
In the Available Credit screen that appears, select Give a refund then click OK.
In the Issue a Refund window, select the credit card type to be refunded (Visa, MasterCard, Discover, Amex) and enter the card information. Note: Be sure the Process credit card refund when saving box is checked.