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Hello, ptracey9.
I'll lay down the details and guides to help you handle the customer refund and the bank deposits.
You'll want to create a refund receipt for the returned items. Here's how:
Several events will happen in QuickBooks:
Both the refund and the bank deposits are handled separately in the bank feeds.
You would need to create a bank deposit for the original card payment less the fees included for processing. Make sure the original payment was deposited to the Undeposited Funds account before doing this.
To record the original payment as a deposit:
When your bank statement comes in to QuickBooks, you would need to match the "Spent" or "Expense" transaction with the refund receipt.
Do the same for the bank deposit. Simply match the bank transaction with the deposit you created in QuickBooks.
Need help reconciling your bank after processing and matching those transactions? You can check this article for the workflow: Reconcile an account in QuickBooks Online.
You can also check other articles in our general topics page if you need help with other processes.
Reply to this thread if you have more questions for QuickBooks Online's processes. I'd be more than happy to share some guides and workflow.
Hello, ptracey9.
I'll lay down the details and guides to help you handle the customer refund and the bank deposits.
You'll want to create a refund receipt for the returned items. Here's how:
Several events will happen in QuickBooks:
Both the refund and the bank deposits are handled separately in the bank feeds.
You would need to create a bank deposit for the original card payment less the fees included for processing. Make sure the original payment was deposited to the Undeposited Funds account before doing this.
To record the original payment as a deposit:
When your bank statement comes in to QuickBooks, you would need to match the "Spent" or "Expense" transaction with the refund receipt.
Do the same for the bank deposit. Simply match the bank transaction with the deposit you created in QuickBooks.
Need help reconciling your bank after processing and matching those transactions? You can check this article for the workflow: Reconcile an account in QuickBooks Online.
You can also check other articles in our general topics page if you need help with other processes.
Reply to this thread if you have more questions for QuickBooks Online's processes. I'd be more than happy to share some guides and workflow.
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