Payment by credit card received, payment posted, cancelled

Hi there, CraigHenk. I'll ensure we can correct the customer balance and sales and fix any discrepancies in the cash balance.

If you have already received a payment from a customer, recorded it in your accounting system, deposited it to your bank, and reconciled the account but then had to refund the payment back to the customer, there are a few steps you need to take. First,  you must write a check to refund the payment to the customer. This Check should be recorded in your accounting system, affecting the accounts receivable. 

Here's how to write a check: 

1. Go to + New, then select Check.
2. From the Payee dropdown, select who you want to address the Check to.
3. From the Bank Account dropdown, choose the account (Account Receivable) you want the money to come from.
4. Fill out the rest of the fields accordingly.
5. (Optional) You can skip this step if you only want to record a check. But if you plan to print the Check, you can choose to print it now or later.
6. Note: If you need to reuse a check number, uncheck the Print later checkbox. When you save the Check, confirm that the check number already exists.
7. Press Save and close.

For further guidance in writing checks in QBO, please check out this article: Create and record checks in QuickBooks Online.  

If you ever need to print checks in QuickBooks Online, you can refer to this article as your guide. It provides step-by-step instructions on printing checks, making the process quick and easy: Print a check in QuickBooks Online.

Please let me know in the comments if you have other recorded customer refund concerns and questions about managing transactions in QBO. I'll gladly help. Take care always, @CraigHenk.

Thank you.  Is the answer still the same if the sale is recorded as a sales receipt instead of recorded as a sale into AR or does the answer change?

I appreciate you returning to this thread, @CraigHenk. I'm here to add further information about recording a customer refund that has already been reconciled in QuickBooks Online (QBO).

To properly record the sale, you'll have to select the Sales or Income account you used for the item since the sale receipt has a direct impact on your bank or undeposited funds. The Accounts Receivable account is only linked to invoices and is not affected by sales receipts.

Furthermore, I'm adding this article to help you personalize the appearance of your sales forms: Customize invoices, estimates, and sales receipts in QuickBooks Online.

Please don't hesitate to swing by the Community whenever you need additional help recording refunds in QBO. I'll get in touch with you right away to assist you further. Take care.

Thank you.  Does the answer change if the payment was a sales receipt instead of posting to AR?

Yes, the instructions or process will differ if the payment was a sales receipt, Craig. Let me provide more details about it.

You can refund a customer who paid you with a credit card right from the sales receipt or associated payment.

Here's how:

1. Go to the Sales menu, then select the All sales tab.
2. Locate and select the sales receipt or payment you want to apply for a refund.
3. Select More in the footer, then choose Refund.
4. Review the transaction info, then hit Save and close.

Please know that the affected account of payments processed through a sales receipt is a bank or an income account.

Here’s an illuminating guide to get more insights about managing refunds in the program: Void or refund customer payments in QuickBooks Online.

If you have any other questions or clarifications, you can add a reply below. The Community team is always ready to help, Craig.

Under "More", I do not have Refund as an option.  My options are the following:

Copy

Void

Delete

Transaction journal

Audit history

Am I missing it?

Hello there, @CraigHenk. I'm joining in to help you get through this and locate the refund option inside QuickBooks Online (QBO).

Before anything else, know we appreciate you for performing the steps provided by my colleagues. In QBO, you can access the refund option in two ways, in the All sales section or in the +New button. I'll outline the steps and provide screenshot below to help you complete this feat.

1. Access your QuickBooks Online company.
2. On the left navigational bar, go to the Sales tab.
3. Go to the All sales section and then locate the transaction.
4. Tick the box beside the sales receipt or payment where you want the refund to be applied.
5. Click the Dropdown arrow beside the New transaction button, and then choose Refund receipt.

For visual reference, see the screenshot attached.

You can also access it using these steps:

1. Access your QuickBooks Online company.
2. On the left navigational bar, click the +New button.
3. Select Refund receipt under Customers section. 

Moreover, you can visit these articles to help you ensure your data stays accurate inside the program:

• Run reports in QuickBooks Online.
• Customize reports in QuickBooks Online.

It's been a pleasure to have you here today, @CraigHenk. If you need further assistance managing customer refunds, know we're always ready to help you anytime. Keep safe.

Thank you.  I am getting closer.  Do I choose Wepay for payment method since it was paid by Wepay originally and do I choose the checking account that it ultimately went into for refund from?  Also, for the date do I choose the date that it came out of the account?

Hello there, CraigHenk. It sounds like you're dealing with a refund in QuickBooks Online (QBO). I'm here to share details of your concerns.

If the original payment were made through Wepay, it would make sense to use Wepay as the payment method for the refund. As for the checking account, you should select the account that the refund will be deposited into. You should use the date when the original payment was taken out of the account. This will help ensure that your records accurately reflect the transaction.

I've got you this article that will guide you how to create a refund in QuickBooks Online. Just click the link and it will route you to the details instruction. By following the steps it will let your create refund successfully.  If you have further questions, don't hesitate to post them here. Bye for now. Stay safe!