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scowles2
Level 1

How to change a credit card credit to a checking account

We received notification that a credit would be issued for an unused hotel room that was previously booked.  I entered that into QB as a Credit Card Credit.  Somehow the hotel sent the credit to our checking account and I don't know how to change this so the correct account is reflected.

1 Comment 1
ShangY
QuickBooks Team

How to change a credit card credit to a checking account

I can help you record the refund to the correct account in QuickBooks Online (QBO), @scowles2.
 

As the refund has been documented as a Credit Card Credit, you may now proceed with creating a bank deposit. Please make sure to utilize the same category as the Credit Card Credit to offset the credit and reflect it accurately in the appropriate account. 

Here's how:

 

  1. Click + New and select Bank deposit.
  2. From the Account drop-down, choose Checking.
  3. Click the Add funds to this deposit drop-down.
  4. Under the RECEIVED FROM column, enter the vendor.
  5. Under the ACCOUNT column, enter the account you used to record for the Credit Card Credit.

 

 

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Additionally, I'd recommend reconciling your accounts regularly to ensure your bank and credit cards are always balanced to avoid financial discrepancies.

 

Our goal is to ensure you can record the credit to the correct account in QuickBooks. If you have any questions about this process, please know that you can always rely on us. Have a good one.

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