Is it possible to issue multiple refunds from a single credit memo?
I don't see where I can adjust the amount of the refund when it's tied to a credit memo, which suggests that we need a separate credit memo for each refund.
What we're doing is issuing some refunds over time because we don't have the cash to issue them all at once, and we are anticipating there will be more coming as the SIP continues, so we're breaking them down into manageable amounts.
There isn't an option right now to issue multiple refunds from a single credit memo in QuickBooks Desktop (QBDT). However, you can create a separate credit memo for each refund as you suggested.
You can also create a refund check and adjust the credit memo minus the amount refunded. This way, you can keep track of the remaining balance to be refunded. Once you totally refunded the amount, you can now delete the credit memo.
Also, I'd recommend checking with your accountant if you want more tips on how to better record this. This way, we'll ensure the accuracy of your accounts after recording this.