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lainscough
Level 2

Bank feed deposit is $3898. It is a settled credit card batch of $4180 payment and ($282) refund. I did a CM for the (282) but I can't add it to a deposit for matching.

How do I get the already refunded amount (with our outside cc processor) entered into QBO that will allow me to add the negative amount to a bank deposit along with the $4180 payment to match the deposit in the bank feed?
Solved
Best answer November 22, 2019

Best Answers
ChristieAnn
QuickBooks Team

Bank feed deposit is $3898. It is a settled credit card batch of $4180 payment and ($282) refund. I did a CM for the (282) but I can't add it to a deposit for matching.

Hi there, lainscough.

 

To match the downloaded transaction in QuickBooks Online (QBO), you'll need to add first the refund amount as negative when recording the bank deposit. Then, make sure to choose the Accounts Receivable account so you will be able to link it to your credit memo.

 

Please follow the steps below on how to enter deposit:

 

1. Select the Plus icon at the upper right.

2. Choose Bank Deposit.

3. From the Account drop-down arrow, select Credit Card Bank.

4. Scroll down in the Add funds to this deposit section.

5. In the Received From column. choose a customer.

6. Select Account Receivable in the Account column.

7. Enter -282 in the Amount column.

8. Hit the Save and close button.

 

You can now link the credit memo and the deposit:

 

1. Click the Plus icon at the upper right corner.

2. Then select Receive Payment.

3. Select a customer.

4. Put a check mark in the boxes beside the Deposit and Credit Memo option.

5. Click the Save and close button.

 

Please check this article on how to create credit, refund or enter overpayment as a tip-in QuickBooks Online if your customer overpays you: Handle a customer credit or overpayment.

 

Let me know if there's anything else I can do to help you succeed with QuickBooks.​​

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5 Comments
ChristieAnn
QuickBooks Team

Bank feed deposit is $3898. It is a settled credit card batch of $4180 payment and ($282) refund. I did a CM for the (282) but I can't add it to a deposit for matching.

Hi there, lainscough.

 

To match the downloaded transaction in QuickBooks Online (QBO), you'll need to add first the refund amount as negative when recording the bank deposit. Then, make sure to choose the Accounts Receivable account so you will be able to link it to your credit memo.

 

Please follow the steps below on how to enter deposit:

 

1. Select the Plus icon at the upper right.

2. Choose Bank Deposit.

3. From the Account drop-down arrow, select Credit Card Bank.

4. Scroll down in the Add funds to this deposit section.

5. In the Received From column. choose a customer.

6. Select Account Receivable in the Account column.

7. Enter -282 in the Amount column.

8. Hit the Save and close button.

 

You can now link the credit memo and the deposit:

 

1. Click the Plus icon at the upper right corner.

2. Then select Receive Payment.

3. Select a customer.

4. Put a check mark in the boxes beside the Deposit and Credit Memo option.

5. Click the Save and close button.

 

Please check this article on how to create credit, refund or enter overpayment as a tip-in QuickBooks Online if your customer overpays you: Handle a customer credit or overpayment.

 

Let me know if there's anything else I can do to help you succeed with QuickBooks.​​

View solution in original post

lainscough
Level 2

Bank feed deposit is $3898. It is a settled credit card batch of $4180 payment and ($282) refund. I did a CM for the (282) but I can't add it to a deposit for matching.

Thank you so much for your help!  Everything has been resolved.  I greatly appreciate your assistance!

LKIMBA1200
Level 1

Bank feed deposit is $3898. It is a settled credit card batch of $4180 payment and ($282) refund. I did a CM for the (282) but I can't add it to a deposit for matching.

We are having this same issue. In the "Bank Deposit" screen, it will not allow us to submit a negative amount. It states "Something's not quite right You must specify a transaction amount that is 0 or greater." 

JasroV
QuickBooks Team

Bank feed deposit is $3898. It is a settled credit card batch of $4180 payment and ($282) refund. I did a CM for the (282) but I can't add it to a deposit for matching.

Let me share some insights about making a bank deposit in QuickBooks Online (QBO), @LKIMBA1200.

 

To deposit a negative amount, ensure you’ve selected a payment to be deposited. This way, the negative amount deduct the deposited payment amount. 1.JPG

 

To make a bank deposit in your QBO account, you can follow the steps shared by my colleague ChristieAnn above.

 

You can also check this link to learn more about how to record bank deposits in QBO: Record and make Bank Deposits in QuickBooks Online.

 

You might also want to check this article for reference when you’re ready to reconcile your accounts: Reconcile an account in QuickBooks Online. Here, you’ll be guided in matching your bank statements accurately.

 

Let me know if you need further help in making a bank deposit in your QBO account. I’ll be around to help you. Have a great day and keep safe!

LKIMBA1200
Level 1

Bank feed deposit is $3898. It is a settled credit card batch of $4180 payment and ($282) refund. I did a CM for the (282) but I can't add it to a deposit for matching.

My view of the screen doesn't show a way to select "payment type". It has a "payment method". We have tried it multiple ways, but it will not allow a negative amount. Is "Bank Deposit" the correct method?   

 

We use Intuit credit card processing. We refunded a customer $45 through the Quickbook merchant website. Now we are trying to match the Quickbook merchant deposit ti the bank feed, but it is off $45.     

 

 

 

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