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Sangucheria
Level 1

How to register a Credit Card credit due to returning a purchased item?

I bought an item at Home Depot for my business using a credit card. Then I returned the item and the same amount was returned as a credit to the same credit card. Now in Quickbooks Online I have two records on the credit card for the same amount, one positive and the other negative with different dates as seen in the attached file. Please help me with the solution to register this issue.

1 Comment 1
LeizylM
QuickBooks Team

How to register a Credit Card credit due to returning a purchased item?

I'll help you record the credit card credit to a purchase made, Sangucheria. 

 

You can create a Credit card credit to record the credit given by Home Depot. Then, you'll have to connect the account of the downloaded transactions you've used in the original purchase. This way, you can match them in the For Review tab.

 

Here's how to create Credit card credit:

 

  1. Click the + New icon, then select Credit Card Credit.
  2. Select a payee and a credit card account from the drop-down.
  3. Fill in the necessary information and enter the amount.
  4. Click Save and close.

 

Then, update the downloaded transactions and match them in the Review tab. 

 

  1. Go to the Banking or Transactions menu from the left panel. 
  2. Select your credit card account. 
  3. In the For Review tab, locate and select the credit adjustment.
  4. Click the Find match bullet.
  5. Locate the credit card credit transaction, then click the box before the date.
  6. Click Save.

 

You can read through these articles to learn more about managing your downloaded bank transactions:

 

 

Fill me in if you have additional questions about managing your credit cards in QBO. I'm always here to help. Take care always.

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