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Donor Transaction List

I have had to issue refunds to Donors who have paid pledges in full (transaction list total was $0 balance). Now that I have issued a refund receipt to that Donor, they show that negative balance in their Transaction List but the Open & Overdue amounts are both $0. Moving forward, won't that negative balance misrepresent the total due against future pledges? What do I need to do to zero out the Donor's Transaction List?

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Best answer May 26, 2020

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QuickBooks Team

Donor Transaction List

Hello there, @mbbtreasurer.

 

let me share some insights about refund receipt in QuickBooks Online. 

 

In a situation where you are returning goods to a customer that they have purchased, you should record a refund to a customer on QuickBooks by creating a Refund Receipt. It is normal that the refund will show a negative sign as long as the open and overdue is zero then it won’t affect your future pledges. 

 

To check if the transaction is correct, you can run the A/R Aging Summary Report to confirm if the transaction shows zero. This report also gives you an overview of your customer’s outstanding balances. 

 

Here’s how. 

 

  1. Go to the Reports menu.
  2. Under Who owes you, select Accounts receivable aging summary.
  3. Then, click Run report.

 

You can also create a refund for credit card payment in QuickBooks Online. You can check out this article to guide you on how. Refund a credit card payment.

 

Feel free to leave a comment below if you need further assistance with refund. I am here to help. Keep safe.

View solution in original post

1 Comment 1
Highlighted
QuickBooks Team

Donor Transaction List

Hello there, @mbbtreasurer.

 

let me share some insights about refund receipt in QuickBooks Online. 

 

In a situation where you are returning goods to a customer that they have purchased, you should record a refund to a customer on QuickBooks by creating a Refund Receipt. It is normal that the refund will show a negative sign as long as the open and overdue is zero then it won’t affect your future pledges. 

 

To check if the transaction is correct, you can run the A/R Aging Summary Report to confirm if the transaction shows zero. This report also gives you an overview of your customer’s outstanding balances. 

 

Here’s how. 

 

  1. Go to the Reports menu.
  2. Under Who owes you, select Accounts receivable aging summary.
  3. Then, click Run report.

 

You can also create a refund for credit card payment in QuickBooks Online. You can check out this article to guide you on how. Refund a credit card payment.

 

Feel free to leave a comment below if you need further assistance with refund. I am here to help. Keep safe.

View solution in original post

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