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Join nowQB desktop will not let me record a negative credit card batch. How do I get around this to reconcile with my bank?
Solved! Go to Solution.
Hello there, Alice. Thanks for the additional information.
Since the refund is larger than the amount in your undeposited account, we may need to create a Journal Entry to offset the Undeposited Funds. Keep in mind to consult with your accountant for this part. Here's how:
Moreover, I encourage you to check this article about creating a credit memo or refunding a check: Give your customer a credit or refund in QuickBooks Desktop for Windows.
Additionally, you can check this article for solutions to your reconciliation problems: Fix issues when you're reconciling in QuickBooks Desktop.
You can always come back to this thread if you have additional questions about your bank transactions. I'm here to assist you in any way I can. Have a good one.
Hi, Alice.
QuickBooks Desktop (QBDT) won't allow a negative total amount when recording transactions manually. However, you can use the Batch Enter Transactions option to enter negative amounts for credit card charges or credits. I'd be glad to guide you through the process.
Here's how:
Doing this process will decrease both bank and credit card balances.
For more information, you can refer to the following articles:
To make sure your accounts in QB match your real-life bank and credit card statements, you can visit these articles for guidance:
If you have any other concerns apart from entering a negative credit card transaction, please feel free to reach out to the Community. We're always here to help you out.
Thank y
Thank you for your quick Response. I have QuickBooks Retail Premiere 2021. I do not have an accountant menu nor is it listed in my help menu. Perhaps I need to be more specific. Credit card transactions imported from my POS software are available as Undeposited Funds in QB. If a Refund Due to a Customer, etc. exceeds the credit card charges (Undeposited Funds) for the day, this negative amount is deducted from my bank account by my Credit Card Processor. QB does not let me make a negative deposit. I do not see any means to attach two QB transactions to one transaction downloaded from my bank. I appreciate any answers you may provide.
ou for your quick Response. I have QuickBooks Retail Premiere 2021. I do not have an accountant menu nor is it listed in my help menu. Perhaps I need to be more specific. Credit card transactions imported from my POS software are available as Undeposited Funds in QB. If a Refund Due to a Customer, etc. exceeds the credit card charges (Undeposited Funds) for the day, this negative amount is deducted from my bank account by my Credit Card Processor. QB does not let me make a negative deposit. I do not see any means to attach two QB transactions to one transaction downloaded from my bank. I appreciate any answers you may provide.
Thanks for the prompt response, Alice. And for providing additional details about your concern.
Allow me to share how you can record the credit card charges.
Please also consider contacting your accountant for more details on recording these transactions.
In addition, I recommend reading this article about matching your bank and credit card statements: Reconcile an account in QuickBooks Desktop.
Return to this thread if you have further concerns about your bank transactions. We're available 24/7 to assist. Have a great day!
Thank you for your feedback but this process only works for positive deposits, not negative deposits where the refund is larger than the undeposited funds.
Hello there, Alice. Thanks for the additional information.
Since the refund is larger than the amount in your undeposited account, we may need to create a Journal Entry to offset the Undeposited Funds. Keep in mind to consult with your accountant for this part. Here's how:
Moreover, I encourage you to check this article about creating a credit memo or refunding a check: Give your customer a credit or refund in QuickBooks Desktop for Windows.
Additionally, you can check this article for solutions to your reconciliation problems: Fix issues when you're reconciling in QuickBooks Desktop.
You can always come back to this thread if you have additional questions about your bank transactions. I'm here to assist you in any way I can. Have a good one.
Thank you very much. That was the answer I needed.
You're most welcome, alicepaul18856.
It's great to hear that the information shared by my colleague @JanbonN above, have addressed your query. We'd love to hear more from you if there's anything else we can further assist you with when handling refunds in your account.
Just keep us posted and we'll be right here, willing to back you up. Keep safe and have good one!
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