I know the importance when you have deposits due to refunds or credit card with discounts, Tom. Let me share information about recording negative balances in QuickBooks Online (QBO).
Currently, there's no option to change the type of transaction displayed in the program when matching the original transaction with Stripe. However, if the transaction is positive after downloading, QuickBooks will populate the transactions with sales or money in the type of transaction.
On the other hand, if the transaction is negative when downloaded, QuickBooks repopulates the transactions with expenses or money-out types of transactions.
Since the download is negative as their combined sales receipt and refund, this will not be able to match the existing transactions.
Here's how to clear the transactions manually.
- Log in to your QBO account.
- Go to the Gear icon settings, then select Chart of Accounts.
- Open the transactions, then make the checkmark status C.
After that, you can exclude the downloaded negative amount.
Additionally, refer to this article for more information on managing delayed credits, and handling credit memos in QBO: Create and apply credit memos or delayed credits in QuickBooks Online
You can go over these references to learn more about managing your income and other sales-related transactions:
If you have any further questions about clearing your negative balance in QBO, please don't hesitate to reply in the comment section. We're always here to lend a hand. Have a good one.
