cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 2

Quickbooks Online Merchant - Third Party Tool

We are using a third-party billing platform - INVOICED! that interfaces with QBO. 

 

Everything has been going smoothly until I processed a credit card refund recently within INVOICED! The refund to the credit card was processed, let's say for $4500, and the refund transaction was received from Intuit who is also our Merchant Services provider. 

 

However, when the matching transaction hit QBO, it is for client payment along with the refund so the Net amount is -$1500. (-$4500 client refund by credit card and a client credit card payment of $3000)

 

Issues:

The client's refund did not synch back to QBO from Invoiced, so I posted a Refund without processing the client's credit card again. By doing that, the refunded invoice does not show that it is due now. 

 

CURRENT STATUS

6/1: Invoice: Paid

6/1: Payment: Closed

6/11: Refund: Paid

 

I can't match the two client transactions to the Net -$1500. The refund is not showing up in the "matchable' transactions (not sure that is a word but it works for me in this situation)

 

Questions:

Do I need to post a JE for the refund instead? What would the transaction be - I tried that first.

 

How do I post the transactions so they will match the -$1500 transaction?

 

The solution I am looking for...

1. Post refund to client record correctly.

2. Match transaction to the refund and the payment (-$1500)

 

I have read all I can find about refunds, but nothing matches this scenario because of the third-party tool INVOICED! Has anyone else used INVOICED!? It has many pros and this is the first time I originated transactions there to synch back to QBO. It was a test, and it didn't pass. Can someone help me? 

 

I am concerned about the client's credit card being hit again. I considered trying to delete the refund in INVOICED! and posting it in QBO. I thought I would get some help first. 

 

I must be missing something here. Thank you!

 

Marcell

 

 

 

 

 

Solved
Best answer June 22, 2020

Best Answers
Highlighted
QuickBooks Team

Quickbooks Online Merchant - Third Party Tool

Glad to have you back here in the Community, @Marcell.

 

I'd like to share some insights on how you can get this issue sorted out and match your transactions in QuickBooks Online.

 

When matching entries in QuickBooks Online, the system allows you to match them if they have the same transaction type (spent or received). Since your transactions have different types, I recommend excluding the 1500 from the bank feeds, then manually post the refund in the system.

 

To do that:

  1. Select on Banking at the left pane.
  2. Refer to the For Review tab.
  3. Choose the checkbox of the transaction to excluded .
  4. From the Batch actions drop-down, hit on Exclude Selected.

On the other hand, when posting the refund in QuickBooks Online, you'll need to create an invoice again since a refund is an expense to your account. This way, you'll be able to match it to the invoice.

 

To give you more details about the different ways of recording a customers refund and closing an invoice in QuickBooks Online, I suggest checking the following links below:

I got you covered if you have any other questions about this or any concerns with QBO. I'm always here to lend a helping hand. Take care!

View solution in original post

3 Comments
Highlighted
QuickBooks Team

Quickbooks Online Merchant - Third Party Tool

Glad to have you back here in the Community, @Marcell.

 

I'd like to share some insights on how you can get this issue sorted out and match your transactions in QuickBooks Online.

 

When matching entries in QuickBooks Online, the system allows you to match them if they have the same transaction type (spent or received). Since your transactions have different types, I recommend excluding the 1500 from the bank feeds, then manually post the refund in the system.

 

To do that:

  1. Select on Banking at the left pane.
  2. Refer to the For Review tab.
  3. Choose the checkbox of the transaction to excluded .
  4. From the Batch actions drop-down, hit on Exclude Selected.

On the other hand, when posting the refund in QuickBooks Online, you'll need to create an invoice again since a refund is an expense to your account. This way, you'll be able to match it to the invoice.

 

To give you more details about the different ways of recording a customers refund and closing an invoice in QuickBooks Online, I suggest checking the following links below:

I got you covered if you have any other questions about this or any concerns with QBO. I'm always here to lend a helping hand. Take care!

View solution in original post

Highlighted
Level 2

Quickbooks Online Merchant - Third Party Tool

Thanks so much for your reply and instructions. The only thing I am unsure of is the part about creating another invoice. 

 

"On the other hand, when posting the refund in QuickBooks Online, you'll need to create an invoice again since a refund is an expense to your account. This way, you'll be able to match it to the invoice."

 

So I can't post the refund against the original invoice payment or invoice? Where is the audit trail or is it just in the client's record? Ok, I will give a try! I will let you know!

Highlighted
Level 2

Quickbooks Online Merchant - Third Party Tool

I followed the steps you outlined and everything looks good.  Thank you so much for your expert advice!

 

I always find the help I need in the QBO Community!

Need to get in touch?

Contact us