cancel
Showing results for 
Search instead for 
Did you mean: 
marumir05
Level 3

Matching refunded shopify order

I received the 1st shopify payout, that included order# 1, 2, 3.

 

Later one, I refunded order#1.

 

The refunded order came out of 2nd payout, this payout includes the refund for order#1 and other orders.

 

I'm struggling to know how to match this case. Do I have to create an invoice for order#1?

 

Shopify orders synced to QBO (we're new to QBO), I believe there's no record for order#1 because it was refunded.

 

Please help!

Solved
Best answer February 03, 2023

Best Answers
JamaicaA
QuickBooks Team

Matching refunded shopify order

Yes, you can create an invoice to record the sales, @marumir05. I'll lay down the steps to help you match your invoice, refund, and bank transactions in QuickBooks Online.

 

When matching, the refund process and the sales will be recorded individually. You'll need to deposit the paid invoice into the Undeposited Funds account if it has been paid. Once done, you'll notice a positive amount in the bank feed that has been recognized as income.

 

I'll show you how to record the transactions separately. 

 

Recording a sale using an Invoice:

 

  1. Create an Invoice.
  2. Receive the payment and put it to the Undeposited Funds.
  3. Deposit it to the Bank. Note: FollowStep 2 in the article.
  4. Match it in the Banking page.

 

To record a Refund transaction:

 

  1. Create a Refund transaction. Indicate the product, amount, sales tax, and other charges. Then, enter the Bank account you've used to refund your customer. You can check this sample screenshot:

  2. Match it in the Banking page. I've added a screenshot for your reference:

 

Since the money is taken from your account when you match a refund transaction, the bank feeds will show a negative amount. This is why we're unable to combine the refund and the invoice into a single bank transaction. In order to match a refund that has already been sent to your customer, you must wait for the bank feeds to update.

 

I've added an article for your future reference when you're ready to assess your business income and expenses through QuickBooks Online: Reconcile an account in QuickBooks Online. This also includes how you can undo the process or fix errors.

 

I'm more than happy to work with you again in managing your transactions. If you need further help with navigating around the product, let me know. I'll get back to you as soon as possible.

View solution in original post

MorganB
Content Leader

Matching refunded shopify order

Thank you for that additional info, marumir05.

 

In this instance you can use the Resolve toggle beside of the difference shown for the refund. When you use Resolve, it will then give you the option to match the created refund to another transaction on the Banking page. 

 

It's always a good idea to verify these types of actions with your accountant. If you don't currently have an accountant, you can find one in your area that's specifically trained in QuickBooks by searching the ProAdvisor site.

 

If you need assistance with the entry please don't hesitate to reach back out. I'll be here to help in any way that I can.

View solution in original post

3 Comments 3
JamaicaA
QuickBooks Team

Matching refunded shopify order

Yes, you can create an invoice to record the sales, @marumir05. I'll lay down the steps to help you match your invoice, refund, and bank transactions in QuickBooks Online.

 

When matching, the refund process and the sales will be recorded individually. You'll need to deposit the paid invoice into the Undeposited Funds account if it has been paid. Once done, you'll notice a positive amount in the bank feed that has been recognized as income.

 

I'll show you how to record the transactions separately. 

 

Recording a sale using an Invoice:

 

  1. Create an Invoice.
  2. Receive the payment and put it to the Undeposited Funds.
  3. Deposit it to the Bank. Note: FollowStep 2 in the article.
  4. Match it in the Banking page.

 

To record a Refund transaction:

 

  1. Create a Refund transaction. Indicate the product, amount, sales tax, and other charges. Then, enter the Bank account you've used to refund your customer. You can check this sample screenshot:

  2. Match it in the Banking page. I've added a screenshot for your reference:

 

Since the money is taken from your account when you match a refund transaction, the bank feeds will show a negative amount. This is why we're unable to combine the refund and the invoice into a single bank transaction. In order to match a refund that has already been sent to your customer, you must wait for the bank feeds to update.

 

I've added an article for your future reference when you're ready to assess your business income and expenses through QuickBooks Online: Reconcile an account in QuickBooks Online. This also includes how you can undo the process or fix errors.

 

I'm more than happy to work with you again in managing your transactions. If you need further help with navigating around the product, let me know. I'll get back to you as soon as possible.

marumir05
Level 3

Matching refunded shopify order

I created an invoice, received payment, and created a refund transaction.

 

However, in this payout, it's still not a match and there's a -$13 difference.

The refunded amount here is a partial refund of $35.

 

How do I resolve this? See attached file.

 

fce1c987-9956-4b63-90f0-b282f25a4dbd.png

 

a18dfcdf-0bc0-4d32-a99e-7e620fb6b6e1.png

MorganB
Content Leader

Matching refunded shopify order

Thank you for that additional info, marumir05.

 

In this instance you can use the Resolve toggle beside of the difference shown for the refund. When you use Resolve, it will then give you the option to match the created refund to another transaction on the Banking page. 

 

It's always a good idea to verify these types of actions with your accountant. If you don't currently have an accountant, you can find one in your area that's specifically trained in QuickBooks by searching the ProAdvisor site.

 

If you need assistance with the entry please don't hesitate to reach back out. I'll be here to help in any way that I can.

Need to get in touch?

Contact us