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Understand fees for refunds or void transactions

SOLVEDby QuickBooks7Updated February 12, 2024

Learn more about fees for transactions you void or refund with QuickBooks Payments.

If you see an issue with a customer transaction, don't worry. You can void or refund transactions in QuickBooks Payments. It just depends on the settlement status.

The difference between a void and refund

  • Void: A transaction you cancel before settlement
  • Refund or return: A transaction you cancel after settlement

When to void or refund a transaction

QuickBooks Online keeps track of daily transactions and batches them all at the same time. Settlement happens when the batch closes at 3:00 PM PT (7 days a week). Payments you process after 3:00 PM PT will count for the next day's settlement.

For example, if you process a transaction on Monday at 3:05 PM PT, you can void it until 2:59 PM PT the next day (Tuesday). After 3:00 PM on Tuesday, you'll process the transaction as a refund or return. There are some exceptions:

  • You can only void certain debit card transactions up to 90 minutes from the original sale transaction or before batch close. It depends on which one  happens first. If you can't void a transaction, you'll need to refund your customer.
  • Transactions already funded or deposited to merchants' accounts can't be voided. You'll need to fund your customer.

This might not apply to chargebacks, risk cases, or other special circumstances where Intuit needs to take action.

Fees for voids, returns, and refunds

Payment transactions you void may incur a fee. You'll have to pay a fee for any refunds you give or return transactions. The fees depend on your pricing plan and transaction type.

Note: All refunds, returns, and voids must have an original transaction. You can't credit an account if there isn't a sales transaction.

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