It's possible to reverse each instant deposit transaction. There will be an additional fee with this reversal, and the transaction fee paid during the instant deposit process is non-reversible, Cotta.
If you would like to reverse those transactions, here's how you can do it:
- Login to your QuickBooks Payments account.
- From the Activity & Reports dropdown, select Transactions.
- Enter the appropriate date range and select Search.
- Select the Transaction ID or the transaction you want to reverse.
- Click the Reverse button in the small Gear icon, select the box next to the desired transaction, and tap the Submit button.
Another way is to create checks and issue refunds within QuickBooks Online (QBO). Please gather the transaction details first (customer, amount, and date) in the Merchant Service Center from the Transaction or Deposit tab. Then, refer to this article for detailed steps on how to record these transactions in QBO: Record a customer refund.
Whenever you want to turn off your instant deposit, check this article in the 'Why You May See an Unexpected Charge for an Instant Deposit' dropdown for detailed instructions: Get help with instant deposits.
You can also contact our Payment Live Support to inquire. They can review your account and provide you with the best alternatives. Please look at this article for information on how to contact them and their support hours: Get help with QuickBooks products and services.
When you're ready to review your automatically downloaded transactions, refer to this article for guidance: Categorize online bank transactions.
Feel free to reach out if you have any questions or need further assistance with recording them manually in QuickBooks. We're here to help.