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Hi,
Newbie here. Can anyone advise how I go about refunding a stripe payment which has been categorised as a deposit (transaction type) rather than a sales receipt?
My accountant advised me to add any stripe sales as a bank deposit so that I can split it into its separate parts (payment and fee). I have had to refund a customer via stripe which is showing in my For Review tab as an uncategorised expense. How do I add the transaction on quickbooks to reflect that it is a refund for the stripe sale? I anyone can anyone point me in the directions of simple instructions I'd be very grateful.
Many thanks
Craig
Hello FAC_UK, Thanks for posting on the Community page, If you just follow the steps on this article that are under the heading customer refund if invoice has been paid
Hi
Did you get sorted on your Stripe refund? I get what your accountant means in splitting the deposit as sales and fee but then how do you account for the refund? the fee isn't being refunded.
I didn't find the QB 'help' too helpful for you.
Thanks
I help you with how you can manage your stripe sale in QuickBooks Online, @Alduck.
In this situation, you would need to make adjustments to your accounting entries to account for the refund. One approach is to reverse the initial sales entry and create a separate entry specifically for the refund amount. This ensures that the refund is accurately recorded and does not impact the allocation of sales and fees. We'll create a written check for the refund amount.
Check the steps below:
Furthermore, I'll be adding this article if you need to refund the customer's overpayment or credit. Please follow the steps provided on this page: Record a customer refund in QuickBooks Online.
If you need to manage your chart of accounts, you can also refer to this page: Add an account to your chart of accounts in QuickBooks Online
I'm still here to help you sort all your refund transactions in QuickBooks Online. Please add your comment below. Have a great day.
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