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Sixteen By Nine
Level 2

one cent refund

Hi probably a dumb question but i have a one cent refund to apply from a software subscription where the just deduct a one cent fee to make sure the card is valid. That has now been returned do you just allocated that to uncategorised income? TIA

Solved
Best answer August 11, 2020

Best Answers
Steven_Product Champion
QuickBooks Team

one cent refund

Hi Sixteen By Nine,

 

Whilst we cannot advise which accounts to allocate or where money should be moved within the business, overall you could allocate it to uncategorized income for the time being until you can consult with a bookkeeper or accountant. This way the money would still be added to your bank register for reconciliation purposes and the amount won't be influencing any other reporting categories. 

 

Thanks, 

 

-Steven

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Sixteen By Nine
Level 2

one cent refund

2 Comments 2
Steven_Product Champion
QuickBooks Team

one cent refund

Hi Sixteen By Nine,

 

Whilst we cannot advise which accounts to allocate or where money should be moved within the business, overall you could allocate it to uncategorized income for the time being until you can consult with a bookkeeper or accountant. This way the money would still be added to your bank register for reconciliation purposes and the amount won't be influencing any other reporting categories. 

 

Thanks, 

 

-Steven

Sixteen By Nine
Level 2

one cent refund

thanks Steven