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Kathryn28
Level 1

Matching payments from credit card merchant

I am new to Quickbooks and need help with the following.

I have a payment in the bank account from EMS -our card merchant – credit card terminal payments for £1215.51

 

I have worked out that it’s made up of the following invoiced payments we took on the card machine.

 

Invoice no: 82 - £1165.21

Invoice no:  83 - £60.00

Invoice no:  88 - £11.00

--------------------

total £1236.21

 

EMS have taken £20.70 from that which was a partial card refund we did of £20.70 from invoice 93

 

This makes the total £1215.51

 

How do I match this to the invoices as this refund has made it £20.70 short? And can I record somewhere on invoice 93 that it's had this refund?

 

Many thanks

Kathryn

4 REPLIES 4
EmmaM
QuickBooks Team

Matching payments from credit card merchant

Hello Kathryn, Thanks for contacting the Community. Yes, you can record the refund on the invoice by creating a credit note for the 20.70 and then using that against the invoice payment. To do that you would create a credit note and then create an expense to the chart of account debtors (using the customer as the payee on the expense and making it for the 20.70(this records the money that left the bank) Then in the invoice you just need to go to receive payment and tick the expense and credit note and it will apply it and leave the remainder to be matched. We hope this helps if you need us to go into more detail just ask.

Kathryn28
Level 1

Matching payments from credit card merchant

Hello, thanks for coming back to me, this didn't work as the invoice with the 20.70 refund had been paid in full and needs the 20.70 taking off it. I've never worked with credit notes and refunds and I am having to learn on the job!

Many thanks

Kathryn

EmmaM
QuickBooks Team

Matching payments from credit card merchant

Hello Kathryn28, thanks for coming back to us here,  We just need to clarify the situation as you mentioned a fee and also that they paid in full but you need 20.70 taking off it. If they did pay in full then that has to be recorded as paid in full on the invoice itself and then it is a case of doing the credit note and expense for the refund and offsetting them, you may not be able to match that in the banking(as it is not reducing the invoice with it being fully paid ) Is it more a fee with you saying it has been paid in full but needs the 20.70 taken off, then we can advise the steps in this case.

If it is a refund and the customer invoice has been paid these are  the steps in full

1. Choose + Icon > Credit Note.
2. In the Pay to the order field, select the appropriate customer.
3. Enter the Credit Date, Credit Amount, and Account (the account used here is typically the product and service on the original invoice.)
4. Click Save.
PLEASE NOTE – IF THE CUSTOMER HAS OVERPAID – YOU DO NOT NEED THE CREDIT NOTE AS YOU WILL ALREADY HAVE AN UNAPPLIED CREDIT THAT ACTS AS YOUR CREDIT NOTE 

1. Choose + Icon > Expense.
2 In the Payee field select or enter the desired customer.
3 In the Account field, select the Accounts Receivable account (debtors).
4 In the Amount field, enter the amount of the refund.
5 In the Amount are field, select NO VAT (not inclusive/exclusive)
6 Click Save. 1. Next, go to the + Icon > Receive Payment
2. Add the payee and choose the Credit note and the expense
3. Balance should be Zero as they will cancel each other out
4. Click Save and Close
5. If you have Online Banking, Go to banking and Match the record found( in some cases you may have to exclude if it can not match)

EmmaM
QuickBooks Team

Matching payments from credit card merchant

if it is a fee you want to record and not a refund let us know and we'll give you alternative steps as mentioned above,

 

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