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Level 3

REFUNDED BY CHECK, SALE MADE BY CREDIT CARD

I am currently using QB for Mac 2016. I took payment on an invoice by credit card and subsequent to the payment, I issued a refund check for most of the invoice amount. I am wondering the steps (step by step) I need to take to record the refunded portion of the invoice.

 

Thought I probably would start with credit memo/refund but, not sure ... please let me know again step by step how to create the refund so that the amount I refunded doesn't show as income. Thank you in advance.

4 Comments 4
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QuickBooks Team

REFUNDED BY CHECK, SALE MADE BY CREDIT CARD

It’s nice to see you in the Community, BigRog.


You’re on the right track in trying to create a customer refund. We'll have to create a credit memo and link it to the refund check. These steps will keep your record in tiptop shape.

 

To add a credit memo:

 

  1. Tap the Customers menu to choose Create Credit Memos/Refunds.
  2. Then, enter the information about the transaction.
  3. Click Save to keep the entry.

Here's how to write a refund check:

 

  1. Open the credit memo you want to use for the refund.
  2. Click Refund at the top of the window
  3. Review the information and make sure to leave Accounts Receivable as the account in the detail area of the refund check. This ensures that QuickBooks will account for the credit and refund correctly.
  4. Hit OK to save the changes.

Next, we’ll have to connect the check to the credit memo so that QuickBooks can track the transaction correctly. Use the Receive Payments window to link the transactions.

 

  1. Click the Customers menu at the top and choose Receive Payments to link the check to the payment.
  2. Pick the customer you’re working on.
  3. You’ll see the amount of the credit included in the Existing Credits field and the refund check in the bottom section of the window.
  4. Then, select Apply Existing Credits?
  5. Key in the amount in the Payment column and press Save to keep the changes.

Check out the Record a credit memo or refund in QuickBooks Desktop for Mac article for more information about the process.

 

Additionally, the QuickBooks Desktop Mac User's Guide contains a list of processes you can do using the software. Aside from that, it contains instructions on how to perform each task.

Reach out to me if you have any other concerns or questions about QuickBooks. I'll be right here to help and make sure you're taken care of. Enjoy the rest of the week.

 

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Level 3

REFUNDED BY CHECK, SALE MADE BY CREDIT CARD

Hi Rasa, thanks for the expedient response to my situation.. I have NOT created a credit memo as of yet and really not sure what or how to do so appropriately. If you could start from the fact that I recorded the sale and payment and have not written the refund check yet, it would be much appreciated... as I mentioned the payment was made with credit card.. but, I am refunding a portion of the sale with a check written from our business account. Thanks again in advance, confused Rog lol

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Level 3

REFUNDED BY CHECK, SALE MADE BY CREDIT CARD

Hi Rasa, attached is screen shot of receive payments window after writing check using refund button from credit memo window ... I applied existing credits and as you can see now the balance in top right of screen is $1840.. I don't understand how that is correct? I also don't have anything in p & l about refund of the $900 .. the check has it applied to Accounts Receivable... somewhat confused still I guess..???

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Level 3

REFUNDED BY CHECK, SALE MADE BY CREDIT CARD

another screen shot of sales... shows the original amt of sale $940 - Premier Painting... this is after credit memo created and check written... should it not be showing $40??

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