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.
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
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..???