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Join nowI had to issue a $765 refund to a customer about 7 months after the original payment was funded and deposited. I refunded the full amount of the invoice using a refund receipt. I did not charge the customer for the initial QB payments fee of $26.26.
In the same batch was a transaction for $99 from a separate sale. When the batch settled, I saw that the refund had taken that $99, then charged my checking account the remainder of the refund amount, which was $666.
I now have a $99 payment sitting in my Bank Deposit window under the Quickbooks Payments tab.
How do I deal with this transaction?
I've got some steps so you can enter a QuickBooks Payments refund that was deducted from an unsettled balance, @jaredbrandon.
Let's first create a check to record the refund amount of $666. Please take note the accounts you use for $765 and $99 before performing the steps below.
The screenshot below shows you the last five steps.
Once done, you'll have to create a bank deposit to record the initial QB Payments fee of $26.26 as a negative amount. Let me guide you how.
For detailed instructions, go through this article: Make Bank Deposits.
Since you're using QB Payments, I'd suggest visiting this website: Deposits and Fees. You'll find steps on how to search for your recorded fees and deposits in the Merchant Service Center.
I'm here anytime you have other concerns. Have a great day, @jaredbrandon.
This is very helpful, @RaymondJayO . Thank you!
My only question is, do I need to delete the credit memo I already recorded for this customer's refund?
Hi there, jaredbrandon.
Yes, you'll need to delete the credit memo to avoid double refund to the customer. To do that, please follow the steps below.
1. Click Sales at the left panel and select Customers tab.
2. Choose customer.
3. Select the Transaction List section.
4. Find the credit memo you've created and double click it to expand the page.
5. Hit the More button at the bottom and select Delete.
6. You'll be prompted with Are you sure you want to delete it?, Click the Yes button.
For additional information, a credit memo is a posting transaction which can be applied to a customer’s invoice as a payment or reduction. A delayed credit is a non-posting transaction that you can include later on a customer’s invoice.
A refund receipt is a posting transaction which is used when reimbursing a customer money.
Please check this article when to record a customer refund or a credit memo to the customer: Enter and apply a credit memo or delayed credit.
Please let me know if you have other concerns related with QuickBooks.
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