Hi, @jules1717. Allow me to explain how QuickBooks handles credit card refunds.
QuickBooks not only processes these refunds but also takes care of the accounting for them automatically. Here's how it works:
- When a credit card refund is processed, the refund amount will be deducted from your bank account as part of QuickBooks’ daily settlement of transactions, which happens every day at 3:00 PM PT.
- Generally, it may take 7 to 10 business days for the refunded amount to appear in your account, and the customer will see it as a credit in their account, as this timeframe depends on your bank's processing speed.
For additional information regarding the timeframe, please refer to this article: Void or refund customer payments in QuickBooks Online.
Furthermore, this article also provides detailed information on potential fees associated with refunds or voided payments in QuickBooks Payments: Understand fees for refunds or voided transactions.
Please be aware that processing times may vary depending on your financial institution's policies and the nature of the refund. If you have any further questions or need additional assistance with credit card refunds, click the Reply button to leave a comment. Have a wonderful day.
