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Ron93
Level 1

Invoice has been voided, payment matched to a deposit but I need to record the refund. How can this be done?

I have a customer who's job was suppose to take place last year and they ended up cancelling which we in turn voided the invoice.

 

The paid a deposit amount which I have sitting in AR that has already been matched to a deposit. 

When I create a refund receipt I am unable to clear the credit shown in the customers account instead it duplicates it.

 

Is there a way this can be done?

Solved
Best answer February 17, 2021

Best Answers
JasroV
QuickBooks Team

Invoice has been voided, payment matched to a deposit but I need to record the refund. How can this be done?

Thanks for the clarification, @Ron93.

 

I’m here to help and get you around this issue. To begin, we’ll need to create an invoice and link the deposit again. Once done, you can now create a refund receipt for your customer. This way, we zero out the available credit in your customer account. 

 

Also, moving forward, I recommend not to void invoices that are linked to a deposit. QuickBooks Online (QBO) doesn’t void any payment you’ve recorded to the invoice. Thus, this creates an open credit to your customer account. To learn more about voiding transactions in QBO, check out this article for reference: Void or delete transactions in QuickBooks Online.

 

In addition to this, I’m adding this link that you can use for guidance in matching your bank balance and QuickBooks balance seamlessly: Reconcile an account in QuickBooks Online.

 

Tag me in your reply if you any other follow-up questions or concerns about managing your invoices. I’ll be around to help and back you up. Stay safe and have a great day ahead!

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3 Comments
MaryLurleenM
Moderator

Invoice has been voided, payment matched to a deposit but I need to record the refund. How can this be done?

You'll need to match the transactions, Ron93.

 

Since a refund is issued to your customer, you'll want to match the refund from the bank to the refund receipt you created.

 

If the refund has been already sent to your customer, you'll have to wait for the bank feeds to update so that you can match it.

 

You can read through these articles to help you manage your customer-related transactions:

I'll be around to help you out if you need further assistance.

Ron93
Level 1

Invoice has been voided, payment matched to a deposit but I need to record the refund. How can this be done?

Thanks for replying MaryLurleenM,

 

The issue I am having is the customer account still shows a credit on file and I am unsure on how to clear the credit to bring it to a $0. If I create a refund receipt, it only duplicated the credit on the account. 

 

For example:

 

Customer Invoice is created and a deposit is paid of $50.00. 

$50.00 is matched to the deposit in Quickbooks. 

The following month the job is cancelled and invoice is voided. 

$50.00 payment remains on the account

 

When a Refund receipt is created it will duplicate the credit amount left on the customers on file. 

 

I hope that helps explain the issue I am having. 

 

 

 

JasroV
QuickBooks Team

Invoice has been voided, payment matched to a deposit but I need to record the refund. How can this be done?

Thanks for the clarification, @Ron93.

 

I’m here to help and get you around this issue. To begin, we’ll need to create an invoice and link the deposit again. Once done, you can now create a refund receipt for your customer. This way, we zero out the available credit in your customer account. 

 

Also, moving forward, I recommend not to void invoices that are linked to a deposit. QuickBooks Online (QBO) doesn’t void any payment you’ve recorded to the invoice. Thus, this creates an open credit to your customer account. To learn more about voiding transactions in QBO, check out this article for reference: Void or delete transactions in QuickBooks Online.

 

In addition to this, I’m adding this link that you can use for guidance in matching your bank balance and QuickBooks balance seamlessly: Reconcile an account in QuickBooks Online.

 

Tag me in your reply if you any other follow-up questions or concerns about managing your invoices. I’ll be around to help and back you up. Stay safe and have a great day ahead!

View solution in original post

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