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Level 1

How to match a refund in bank review

 
26 Comments
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Level 3

How to match a refund in bank review

You will need to create a matching refund transaction in Quickbooks first and match your bank transaction to it.

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QuickBooks Team

How to match a refund in bank review

Hey there, @DMV1.

 

You can match your transactions by clicking on Find Match on the Banking page. Let me guide you how.

 

First, you'll need to make sure that the transaction intended for the refund is entered in QBO. 

 

Next, locate the refund transaction from the Banking page and match it to the transaction. Here's how:

  1. On the left panel, click on Banking.
  2. In the For Review tab, select the refund transaction.
  3. Click on Find Match.
  4. On the Match transactions page, select the transaction which the refund was for.
  5. Click on Save.

You may read this article in your free time: Add and Match Downloaded Banking Transactions.

 

Feel free to leave a comment below if you have other questions. I'd be glad to help you. Have a good one!

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Level 1

How to match a refund in bank review

I have a credit card refund and created a refund receipt, but in bank review it is not there when I go to match it (yes I checked the date to be sure it would be included in match) , yet the transaction is in the Customer's activity!  How in the world do you match it when it never shows up?  I even choose Refund Receipt (within match) and nothing shows up even when I choose dates for the whole year nothing!  I can do a report on Refunds and there are several past & future?????

Kathy

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QuickBooks Team

How to match a refund in bank review

Thank you for trying some troubleshooting steps to resolve the issue, @kthyklsy.

 

Ideally, the refund receipt should show on the Match Transaction screen. However, take in consideration of the bank account selected on the refund receipt. Open the transaction once more then verify the bank and update the details if necessary.

 

In case everything is correct and still it's not showing on the Match Transaction window, please contact our phone team. They have the screen sharing access to conduct further investigation.

 

Keep me posted on the results or if you have follow-up questions. I'm still here to help and provide assistance. Wishing you and your business continued success!

 

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Level 1

How to match a refund in bank review

I have the same problem that after I created refund receipt and it doesn't show on my bank review match please help

Highlighted
QuickBooks Team

How to match a refund in bank review

Hello there, @DF12345678.

 

As mentioned by my colleague HoneyLynn_G above, you'll have to make sure that the created refund receipt is associated with the bank account selected. You can first check the transactions to verify the bank and make an update if needed.

 

If the refund receipt still not showing on the Match Transactions page, I suggest contacting our Phone Support Team. This way, they can further investigate this matter and provide additional troubleshooting steps to get this fixed.

 

To reach them, click the ? Help button and select Contact Us to talk with a live agent.

 

You might want to check out this article to learn how to categorize bank transactions: Assign, categorize, edit, and add your downloaded banking transactions.

 

If you have any other questions, feel free to comment below. I'm always here to help you. Have a great day.

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Level 1

How to match a refund in bank review

Hi,

I have the same problem with Refund Receipt. I could not match it with bank review. In the bank account history it shows as a deposit and in the For Review the amount is on the Spent column. When I had a transaction in the For Review with the same amount but in the Received column on the Match transaction page it shown the Refund Receipt along with other transactions. It looks like Refund Receipt in the bank account history should be a Payment, not Deposit. How I can fix it?

Olga

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QuickBooks Team

How to match a refund in bank review

I can help you fix it, @Olga.

 

The information that's being downloaded in the bank register always depend on how a bank shared it with QuickBooks. Once these transactions are transferred, QuickBooks automatically analyze its information. Then, it will suggest for possible match among the transactions that a customer entered in the system.

 

Since you're downloaded transaction was incorrect, we can exclude and enter it manually in your bank register. Here's how you can exclude it:
 

  1. Go to the Transactions menu and select Banking.
  2. In the for For Review tab, check the box for the incorrect transaction.
  3. Click the Batch actions drop-down, then select Exclude Selected.

 

Once done, you can now import bank transactions using Excel CSV files. Then, you can go back to the For Review tab in the Transactions menu and match your transactions.

 

 

You can always tag me in the comment section if you have further questions about banking issues. I'll always have your back.

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Level 1

How to match a refund in bank review

Hi QB Support Team,

 

I need assistance matching a withdrawal in bank review. Here's my scenario (please note that I use a merchant to process credit card payments for my product)

1. Client has an invoice $100

2. Client pays invoice through merchant

3. Money is deposited in bank account and it is matched in QB

3. Client requests refund 

4. Merchant issues the refund, but withdraws $70 from bank account to cover the refund. The other $30 were covered by another client invoice that was paid the same date the refund was issued

5. I created the refund receipt to match in QB

6. The Banking- review page shows the withdrawal amount of $70 under the SPENT column. However, the transaction (or merchant payout) also includes the $30 payment of the other invoice. 

 

How can I make the deposit for the $30 and the refund together so it matches my bank transaction?

 

Thanks.   

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Level 2

How to match a refund in bank review

I have the same problem, and after reading thru all of these responses, there is NO CLEAR ANSWER from Quickbooks on HOW to make refunds show up in the matching process.

 

It's always phone in and we can help you. That doesn't help everyone else who continually runs into this problem. Quickbooks needs to put together a CLEAR VIDEO TUTORIAL on how this is to be done, so we can all learn how to execute these transactions without having to continually call in. It's so frustrating that this hasn't been clearly documented YET! 

 

I'm now 2 months behind in my book keeping because I can't figure out how to make this work and my books are now a MESS and OUT OF BALANCE!

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QuickBooks Team

How to match a refund in bank review

I can help you in recording a refund in QuickBooks Online, @newmarketbbq.

 

You can use refund receipts to record a refund to a customer if they used a credit card. 

 

However, if the transaction is through the bank, you can record a refund to your customer using Check or Expense. This will reduce your bank's balance and offsets the customer's open credit, overpayment, or prepayment. After adding an expense or check, you can link the refund to the customer's credit or overpayment.

 

Check these articles for more information:

From here, you can match those transactions for as long as you're using the correct bank account when creating a refund receipt. 

 

Read the following reference on how to categorize and match online bank transactions in QuickBooks Online.

 

Having a video tutorial on how to achieve this would be a great time saver for our customers, so I'll take note of it.

 

I'm always here if you have any other concerns. Have a wonderful day!

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Level 2

How to match a refund in bank review

None of this works for me. 

I use a 3rd party CC processor. Deposits are made daily into my bank. Sometimes credits or refunds are issued on a different day then the original receipt date, so I have to be able to select the refund when matching the transactions to close out the deposit batch. 

PROBLEM is the Refund Receipts are NOT showing up in the matching window. 

PLEASE tell me step by step how to get the refund receipts to show up in the matching window, so I can completely my matching process and close these open bank deposits since May. 

thank you. 

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Level 2

How to match a refund in bank review

The content in the following thread actually correctly answers this issue:

https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/how-to-match-one-bank-trans...

 

Thanks to @jamespaul for outlining the steps.

 

Bottom line, Quickbooks makes this IMPOSSIBLE for anyone to clearly understand how to accomplish such a simple task. Seems like QB would come up with a better way for this to be resolved, ie, include Refund Receipts in the Matching Window, so these types of problems could be avoided. I'm documenting this in my own procedures, so I don't have to go digging around in QB again for this answer.

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Level 1

How to match a refund in bank review

I was having this very same problem.  I found that the Refund Receipt that was created automatically put the refund into my Undeposited Funds account, and not into a bank account.  Because the refund amount is sitting in this account, it cannot be found when you try to match it to the online banking transaction.  I had to create a journal entry in which I had to Debit the undeposited funds account and Credit the cash/bank account.  Once I did this, I was able to match the journal entry to the online bank transaction and this also cleared the Undeposited Funds account.

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Level 2

How to match a refund in bank review

It didn't work to me. I created JE as you said and ended with double minus of refund amount as the Difference of matching

Highlighted
Moderator

How to match a refund in bank review

Hello @Nancy T,

 

You have the option to delete the journal entry to remove the duplicate amount to refund for your customer. Instead of creating a journal entry, you can update the payment account of the refund receipt.

Doing so, you'll be able to select your bank as the affected account so you can match it with your downloaded transaction. I've included a screenshot below for your visual reference.

 

Lastly, here are articles you can read for ideas about how you can work with your sales in QuickBooks: Sales and Customers for QuickBooks Online.

 

If there's anything else that I can help you with, let me know in the comments. I'll be here to lend a hand.

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Level 2

How to match a refund in bank review

This is what I see on my Refund Receipt

Please see attachment

 

Highlighted
QuickBooks Team

How to match a refund in bank review

Hi there, @Nancy T.

 

I'm here to assist you with your concern.

For us to make sure that we're working on the same page, can you please re-upload the attachment or the screenshot on your refund receipt. To make sure that we provide you an accurate answer that will help you fix your issue.

 

Please know that I'm always around here in the Community to help. Take care, and have a good day!

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Level 2

How to match a refund in bank review

Hi,

I'm re sending the attachment. Now it is pdf.

 

Thanks for your help

Highlighted
QuickBooks Team

How to match a refund in bank review

Hello again, Nancy T.

 

Thanks for providing us the screenshot. It looks like you have QuickBooks Payments connected to your account. If Credit Card is selected from the Payment method drop-down menu, the Refund from field will not show up.

 

Here's a sample screenshot for reference:

 

With regard to matching the transactions, you need to make sure that the account, date, and amounts are the same. If no match is found in the Banking page, you can select the Find Match option and look for the transaction.

 

Here's how:

 

  1. Go to Banking > For Review.
  2. Find the transaction and select Find Match.
  3. Change the Date to see all matching transactions. 
  4. Put a check mark on the refund receipt and click Save

I've got a sample screenshot below for a visual guide:

 

 

If the refund was processed using a different account, then you'll want to exclude the transaction that shows up in the Banking section by following these steps:

 

  1. Go to Banking > For Review.
  2. Find the refund and put a check mark on the box.
  3. Click the Batch Actions drop-down menu located above Date column.
  4. Select Exclude Selected.

The transaction will be put to the Excluded tab where you can delete it. To manually clear the transaction created in QuickBooks, you can go to the account register.

 

Here's how:

 

  1. On the left panel, select Accounting > Chart of Accounts.
  2. Click on the View register link of the account where the refund was recorded.
  3. Look for the refund and click the transaction to view the options. Under the Check mark column, click on the blank field until you see the letter C. This means Cleared, while R is for Reconciled.
  4. Click Save once done.

 

 

I'm adding these articles for reference:

 

Should you have any follow-up questions or other concerns, please let me know by leaving a comment below. Have a good one. 

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Level 2

How to match a refund in bank review

Doesn't work any option that is suggested. 

 

I am back to Undeposited funds thinking that there might be solution.Same as somebody already posted I found that the Refund Receipt that was created automatically put the refund into my Undeposited Funds account, and not into a bank account.  Because the refund amount is sitting in this account, it cannot be found when I try to match it to the online banking transaction. I have tried to create a journal entry in which I had to Debit the undeposited funds account and Credit the cash/bank account.  It didn't work (as I mentioned it doubled Difference on matching) . IT seems impossible to move the refund from Undeposited funds to bank account and match it. 

Highlighted
Moderator

How to match a refund in bank review

Hi, Nancy T.

 

Allow me to step in and get this sorted out. If the refund receipt was refunded from your merchant account, the option to match this transaction is currently unavailable in QuickBooks Online. You will need to create a journal entry to be able to match the transaction.

 

However, using this method (journal entry) needs the assistance of an accounting professional for the accounts you need to use. Also, your accountant can help and guide on which account to debit and credit.

 

Also, regarding the difference with a double minus, you might have recorded a bank deposit together with a refund resulting from the difference.


 

Also, I suggest visiting this website: Video Tutorials. It has step-by-step videos about managing your QBO company, income, expenses, banking, inventory, and running reports. 

 

I'm always here to help if you have any other concerns or questions. I'll get back to you as soon as I can.

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Level 1

How to match a refund in bank review

Hi

 

I have read all the info in these threads but am so confused, so I hope you can help.

 

I have a few different items that I have bought from amazon from my same bank account. Some of these items I have returned so I have the refund amount sitting in my account,  I assume I need to cross reference this items somehow with the original transaction, but am very unclear as to how these should be recorded.  

 

Thanks for your help

Highlighted
QuickBooks Team

How to match a refund in bank review

You can create a vendor refund to record the refund you've received from a vendor, @cue2cue.

 

Here's how:

 

  1. Click the + New button and select Vendor credit. 
  2. In the Vendor drop-down, select your vendor.
  3. Depending on how you record purchases with this vendor, enter the Category details or Item details.
  4. Click the Save and Close button. 

Ensure to associate the refund to the same expense account you've used in recording the expense. You can read through this article for detailed guidance: Enter a refund from a vendor.

 

Also, you can refer to this article to track credits you've received for future purchases: Manage Vendor Credits.

 

I'm always here if you have questions in recording your transactions. Keep safe and have a wonderful day!

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