cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Mebs1
Level 3

Reconciliation credit card

Hello,

One of my client had to check if their credit card machine was working so they used their credit card to pay $0.01 and issued the refund to the same card. When I tried to reconcile this account I can see the payment but I cannot see the refund in the list of transaction to reconcile. It appears in the chart of account in the checking account. 

Thank you for your help!

Solved
Best answer February 15, 2022

Best Answers
AlcaeusF
Moderator

Reconciliation credit card

Hello @Mebs1,

 

Welcome to the Community. I'd be glad to assist you with reconciling an account in QuickBooks Online.


When you reconcile a credit card, you'll need to compare each transaction from your bank statement with the ones entered in QuickBooks. The Reconciliation screen will only show you transactions entered into a specific account.

 

Since the refund is in a different account register (Checking), it will not reflect in the list of transactions you can reconcile. I recommend you edit the transaction and change the account to the correct one.

 

Here's how:

 

  1. Click the Gear icon in the upper-right corner.
  2. Select Chart of accounts.
  3. Search for the Checking account.
  4. Press View register
  5. Edit the refund.
  6. Change the account to your credit card.
  7. Hit Save and close.

 

If you're unable to change the account, there's another workaround. You can delete the refund and recreate the transaction into the correct register.

 

You can enter the transaction as Credit Card Credit through these steps:

 

  1. Go to the +New button.
  2. Select Credit card credit.
  3. Choose the payee.
  4. In the Bank/Credit account field, select the credit card account you received the refund.
  5. Select the date in the Payment date section.
  6. In the Category details section, select the same expense account of your original purchase.
  7. Enter the amount.
  8. Click Save and close.

 

Also, I've attached some links you can use as additional guidance in reconciling an account. These articles contain information about the workflow, as well as how to resolve balance and transaction issues:

 

 

Fill me in if the refund still won't show up or if you need more help with the reconciliation. I'm always here to help. Take care.

View solution in original post

2 Comments 2
AlcaeusF
Moderator

Reconciliation credit card

Hello @Mebs1,

 

Welcome to the Community. I'd be glad to assist you with reconciling an account in QuickBooks Online.


When you reconcile a credit card, you'll need to compare each transaction from your bank statement with the ones entered in QuickBooks. The Reconciliation screen will only show you transactions entered into a specific account.

 

Since the refund is in a different account register (Checking), it will not reflect in the list of transactions you can reconcile. I recommend you edit the transaction and change the account to the correct one.

 

Here's how:

 

  1. Click the Gear icon in the upper-right corner.
  2. Select Chart of accounts.
  3. Search for the Checking account.
  4. Press View register
  5. Edit the refund.
  6. Change the account to your credit card.
  7. Hit Save and close.

 

If you're unable to change the account, there's another workaround. You can delete the refund and recreate the transaction into the correct register.

 

You can enter the transaction as Credit Card Credit through these steps:

 

  1. Go to the +New button.
  2. Select Credit card credit.
  3. Choose the payee.
  4. In the Bank/Credit account field, select the credit card account you received the refund.
  5. Select the date in the Payment date section.
  6. In the Category details section, select the same expense account of your original purchase.
  7. Enter the amount.
  8. Click Save and close.

 

Also, I've attached some links you can use as additional guidance in reconciling an account. These articles contain information about the workflow, as well as how to resolve balance and transaction issues:

 

 

Fill me in if the refund still won't show up or if you need more help with the reconciliation. I'm always here to help. Take care.

Mebs1
Level 3

Reconciliation credit card

Thank you so much for your help !

Need to get in touch?

Contact us
Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up