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FShah
Level 1
posted
‎June 22, 2021 12:13 PM
last updated ‎June 22, 2021 12:13 PM

Recording refund from bank towards a credit card in the negative

I paid off a credit card and the balance was set to zero. Then a month later one of the merchants gave us a credit for the shipping charges that went back to the credit card that was on file setting the credit card to a negative value. That card is barely used and the bank finally decide to issue a payment towards that card to set the credit card balance to $0. I want to record this transaction in quickbooks, but do not know under what account I should show the refund from the bank. Any advise would be grateful. Thanks in advance.

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2 Comments 2
katherinejoyceO
QuickBooks Team
QuickBooks Team
‎June 22, 2021 01:39 PM

Recording refund from bank towards a credit card in the negative

Glad to see you here in the Community today, @FShah. I've got you the steps to record your refund from the bank towards a credit card. 

 

We can make a bank deposit for this transaction. Here's how: 

 

  1. Go to the Banking menu in your QuickBooks Desktop (QBDT) software.
  2.  Select Make Deposit.
  3. Under Account, select bank, then click Add funds to this deposit. 
  4. Go to Account, then select the Credit Card account. 
  5. Click Save & Close.

 

Should you need more references while working with QuickBooks in the future, feel free to read the topics and insights from our QuickBooks Desktop user guide.

 

Get back to me if you have additional questions in managing your transactions on your QuickBooks. I'm always around to help. 

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katherinejoyceO
QuickBooks Team
QuickBooks Team
‎June 23, 2021 10:02 AM

Recording refund from bank towards a credit card in the negative

Hi there, @FShah.

 

Hope you’re doing great. I wanted to see how everything is going about recording a refund from the bank towards a credit card concern you had yesterday. Was it resolved?

 

Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.

 

Looking forward to your reply. Have a pleasant day ahead!

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