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Suestewart
Level 1

processing Debit EFTPOS transaction on bank statement

I have a debit transaction (1 refund of $550.00 and 3 sales totalling $324.50) it appears in the 'spent' column It has assigned it to transaction Type 'Expense'.

When I try to match I only have the choice of AP open transactions as it is treating it as an Expense when i  select Find Match  - anyone know how to process this so I can clear the Sales Invoices and match the refund against an adjustment note?

 

Thanks, Sue S

 

3 Comments
KlentB
QuickBooks Team

processing Debit EFTPOS transaction on bank statement

I can help you in handling this transaction, Sue.

 

By default, your bank controls how the transactions are received by QuickBooks. Generally, customer refunds will show up as spent since it's a debit transaction. When you match this, the program will show the accounts payable-related transaction. That said, you can only link this transaction to your refund receipts, not to your invoices and credit note.

 

In this case, you'll want to skip the matching process and then manually clear the transactions in your bank register. This way, it would be easier for you to reconcile your account. Here's how:

 

  1. Select Accounting from the sidebar menu.
  2. Go to Chart of Accounts.
  3. Find the bank account holding the transactions, then click View register.
  4. Locate the transactions, then go to the "checkmark" column.
  5. Keep clicking the empty box until a "C" appears.

After that, follow these step to exclude the debit transaction from the Banking page:

 

  1. Select Banking or Transactions from the sidebar menu.
  2. Head to the Banking tab, choose the appropriate bank account.
  3. Select the For Review tab. 
  4. Find the downloaded bank transaction, then put a checkmark on the box.
  5. Hit the Batch actions tab.
  6. Select Exclude Selected

When you're ready to reconcile, feel free to read this article to help keep your accounts balanced and up-to-date: Learn the reconciliation workflow in QuickBooks.

 

You can always find me here if you have any other questions or require further clarification. Just post the details below and I'll get back to you.

Suestewart
Level 1

processing Debit EFTPOS transaction on bank statement

Thanks, that worked :-)

Kristian_S
QuickBooks Team

processing Debit EFTPOS transaction on bank statement

Excellent news!

 

Please reach back out to us if you have any further enquiries that we can assist with.

 

Remember also you can find a ton of tips, tricks and information on our Community website - https://quickbooks.intuit.com/learn-support/en-au/

 

We hope you have a great week ahead!

 

Kristian.