Refund Included in my Bank Deposit

miniprincess · ‎April 23, 2021

I had a customer's card get over charged. The bill was $75 and he mistakenly paid $100.00.

I waited until the payment had settled and the next morning refunded his over payment of $25.00. That same day another customer was charged $997. Resulting in a deposit to our bank account of $972.

When I got to match the bank deposit to the credit and the invoice I cannot get the Credit to show as available to include in the deposit.

I have tried Checks, Refund Receipts, Credit Card Refund and Credit Memos but none of them have shown up as an item I can include in that days deposit. Any ideas? Thank you!

KlentB · ‎April 23, 2021

I can help you in handling that transaction, miniprincess.

The credit won't show on the Match transactions page since the two transactions have different amounts. In this case, you can just exclude the downloaded bank deposit. Then, manually clear the credit and invoice in the bank register. I'll show you how:

Select Accounting from the sidebar menu.
Go to Chart of Accounts.
Find the account holding the transaction, then select View register from the Action column.
Locate the invoice and the applied credit, then click the transaction to expand the view.
Review the Check column.
Keep clicking the checkbox until it shows a letter C to mark the transaction as cleared.
Click Save, then close your account register.

I'm also adding these articles to help manage your bank transactions and keep your accounts up-to-date:

You can always tag my name in your posts and comments if you need more help in accomplishing your other tasks. I'll be more than happy to assist you again.

View solution in original post

KlentB · ‎April 23, 2021

I can help you in handling that transaction, miniprincess.

The credit won't show on the Match transactions page since the two transactions have different amounts. In this case, you can just exclude the downloaded bank deposit. Then, manually clear the credit and invoice in the bank register. I'll show you how:

Select Accounting from the sidebar menu.
Go to Chart of Accounts.
Find the account holding the transaction, then select View register from the Action column.
Locate the invoice and the applied credit, then click the transaction to expand the view.
Review the Check column.
Keep clicking the checkbox until it shows a letter C to mark the transaction as cleared.
Click Save, then close your account register.

I'm also adding these articles to help manage your bank transactions and keep your accounts up-to-date:

You can always tag my name in your posts and comments if you need more help in accomplishing your other tasks. I'll be more than happy to assist you again.

KlentB · ‎April 24, 2021

Hi miniprincess,

Hope you’re doing great. I wanted to see how everything is going about the issue in your bank transactions yeterday. 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 anytime.

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

miniprincess · ‎April 28, 2021

Yes, this process worked. It's odd to me that we can't match up a credit card refund along with a charge because the total amount does match the deposit and it was able to be done in Quickbooks desktop without much of a problem. Sometimes it feels like 50% of QBO is a work around. Thank you for your assistance in clearing this!

cedarcreekrv · ‎October 19, 2023

I have the same issue on occasion and find it odd that QuickBooks can incorporate the "correct" way to clear the two with one deposit in the desktop version but not the QBO version. Very frustrating to do something against the way you know is not correct.

SheandL · ‎October 19, 2023

I understand that having this feature in QuickBooks Online is important to you, @cedarcreekrv. I've got some information and an alternative to help you out.

That's right, QuickBooks Desktop offers this feature, which allows you to clear or match two different credit card refunds with only one deposit. It is still possible in QuickBooks Online, but you must exclude the downloaded bank deposit and manually clear the credit and invoice in the bank register. To do so, here's how:

On your left navigation panel, choose Transaction.
Select Chart of Accounts.
Locate the account holding the transaction, then click the View register from the Action column.
View the Check column.
Keep clicking the checkbox until the letter C shows to mark this transaction as cleared.
Click Save and close your account register.

To learn how to remove individual transactions from your bank statement in QuickBooks, you can review this article: Undo or remove transactions from reconciliations in QuickBooks Online.

Please get back to us if you have further questions regarding this matter. The Community is always here to assist you.

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Refund Included in my Bank Deposit