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Level 1

Reconcile a refund receipt

After processing a sales via CC, a customer returned an item and I need to process a refund.  I created an Refund Receipt, which I understand it doesn't effect the customers balance.  But should effect my account balance.  But the refund receipt doesn't appear when I go to reconcile my account.

 

Thanks,

Dave

 

 

11 Comments
Moderator

Re: Reconcile a refund receipt

Glad to have you here in the Community, 440SA.

Let's get your refund receipt reconciled.

 

This is usually a date issue from entering the period date on the first screen of the bank reconciliation window. You may want to check the date range of the transactions, or it's possible that they were in the wrong bank account.

 

You may find this article helpful: How to reconcile accounts.

 

As always, if you need help with QuickBooks you can call our dedicated team who will be happy to assist you. Our contact details can be found here along with our opening hours:

  1. Go to: https://help.quickbooks.intuit.com/en_US/contact.
  2. Choose your QuickBooks Product.
  3. Select your QuickBooks version.
  4. On the Contact Us page, click a topic.
  5. Click on the Get Phone Number button to see the support number.

Please know I'm a post away if you have any other questions, Have a nice day!

Level 1

Re: Reconcile a refund receipt

I have checked the dates, the refund is from 12/3/2018 and when I go to reconcile it shows me transactions from 09/18/2018 to 12/27/2018. I have 2 refunds in that time frame, but neither of them are showing up.

Moderator

Re: Reconcile a refund receipt

Hi, 440SA.

Thanks for the quick response. Let's get this sorted out.

 

You can try to toggle the reconciliation field in register from R to C to a blank status.

 

Here's how:

  1. Click the Gear Icon at the upper right corner.
  2. Under Your Company, select Chart of Accounts.
  3. Select the Account Name then View Register/Account History.
  4. Find the transaction that needs to be reconciled.
  5. To highlight click on the transaction.
  6. In the reconcile status column (indicated by a check mark), repeatedly select the top line of the transaction to change the status of the transaction.
  7. If the field contains a it is cleared, and if the field contains an that means it is reconciled.
  8. You can continually click in this field to achieve the status desired for this transaction. If it was originally blank, click once and it will display a C, if you click again an R, again back to blank.
  9. Click Save.

Once done and the transactions are still not showing, you can try to delete and re-create them. You can also take a look at this article for more information: How to unreconcile a transaction or undo a reconciliation.

 

Please let me know if you have any other questions. Have a great day!

Level 3

Re: Reconcile a refund receipt

I have the same issue.

I've issued a refund receipt and made the refund using QB Merchant Services.
The refund appears in the bank register.

The batch deposit from QB merchant services containing several payments and the refund is in my bank feeds.

When I try to match invoices and the refund to the batch deposit, I can find the invoices, but I can't find the refund. So I can't finish matching to the deposit, therefor I can't reconcile my bank account.

Moderator

Re: Reconcile a refund receipt

Hello there, howardjennings

 

Once you created a refund receipt, it will only affect the bank balance of the customer. That is the reason why you didn't see the refund. It will not affect once you match the transactions and reconcile them to your bank.

 

You can check this article for your references in:

 

You can always get back to me if you have more concerns. 

 

 

Highlighted
Level 3

Re: Reconcile a refund receipt

All of the articles assume that the amount deposited in to your bank account matches the invoices attached to the transaction.

 

That is not always the case. In the case of a credit card refund Merchant services deduct the amount of the refund from the payments they have collected, therefor the deposit they make does not match the transactions associated with it.

Moderator

Re: Reconcile a refund receipt

Glad to have you here, @howardjennings!

 

Let me help you match your transactions with your bank register and reconcile your bank account successfully.

 

To start, a Refund Receipt is an expense from your bank account. This is the reason why you cannot match it with your deposits.

 

With this, let's record the refund receipt and the received payments to your undeposited funds. After that, you can make a deposit to ensure these payments and refunds be deposited to your bank account.

 

Once done, the payments and refunds will reflect into your bank account and then you can start the reconciliation.

 

However, I still recommend contacting your accountant for further guidance in handling refunds and reconciling your account.

 

Feel free to leave a comment below if you have any other questions. I'll be your hand and will always be around to help.

Level 1

Re: Reconcile a refund receipt

Hi QBO team. 

 

There seems to be a genuine BUG with the refund receipt transaction not showing up in the banking's matched transactions. A refund receipt is a DR to whatever account the Goods/Services is coded to in QB, and CR to cash (it's not posted to the an expense account as stated in your recent reply).  I've also checked my bank register and the refund receipt is posted there. So the question is why isn't the refund receipt not showing up in the banking's matched transaction - this is related to credit card batched deposits, where I'm trying to match multiple credit card transactions (refunds and deposits) to the one batch deposit. I also have the correct date ranges in place to have the refund receipt transaction show up, but it doesn't. 

 

Please have your QA engineering team test and review as soon as possible. This is a real bug and affecting many businesses.  If you need more info from me, please let me know.  BTW, I'm a CPA. Thanks!

 

QuickBooks Team

Re: Reconcile a refund receipt

Thank you for offering your help about the thing you've noticed when matching your refund receipt, bookie444. I'll pass this along to our product development team.

 

When your refund receipt is already reconciled (has an R status), it will not show up as a matching transaction anymore. Do you see an R (reconciled) status on the receipt in your register? If yes, you can un-reconcile it, match it, and reconcile again. Or, just let be, and exclude the downloaded refund receipt on the Banking page. If no, I'd recommend contacting our phone or chat team to investigate this further. They have additional tools to gather more details of the behavior.

  1. Click on Help and choose Contact us.
  2. Enter a short description of the issue and click Let's talk.
  3. Choose from Chat or Get a callback.

If you have more questions, feel free to post a reply below.

Level 1

Re: Reconcile a refund receipt

Thanks for the quick reply, Jess. 

 

No R in the register. It's an unreconciled item. 

 

Thank you again! I look forward to the fix. 

QuickBooks Team

Re: Reconcile a refund receipt

You're welcome and thanks for letting me know, bookie444.

 

Yes, it's best if our chat or phone team can check this further.

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