cancel
Showing results for 
Search instead for 
Did you mean: 
Not applicable

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

I use Shopify which records daily payouts which include both sales and refunds in the same transaction. Then I use Webgility which manually creates sales receipts and refunds receipts in Quickbooks. I am unable to match banking transactions (shopify payouts) that include both sales receipts and refund receipts. How do I do this?
22 Comments 22
Regina_Lend_A_Hand_Accounting
Level 9

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

The key is to recreate what actually happened, in the order it happened, then you will have a match within your bank feed. Drill down into your sales and refund receipts in question and change the "Refund From" and "Deposit To" accounts to "Undeposited Funds". Then go to "Bank Deposits" and select only the transactions that total the amount that hit your bank account that you need to match. Make the deposit on the same day the deposit went into your bank feed, then you will have a match to add the transactions that make up the deposit for that day.

allyson3
Level 1

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Hi I am also trying to match a receipt and refund. I have changed to undeposited funds but i dont see the 'bank deposits' bit you mention?

Tori B
QuickBooks Team

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Hey there, @allyson3.

 

Welcome to Community. Glad to have you here.

 

Let's drill down where bank deposits are located:

 

  1. Click the + New icon at the top of the screen.
  2. Under the Other column choose Bank deposit.

 

For more details about matching receipts and recording bank deposits, you can check out these articles:

 

If you have further questions or concerns, feel free to reach back out anytime. I'm always happy to lend a helping hand. Take care and have a great day ahead!

Mmresd
Level 1

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

It won't let me add it as a deposit because it is net negative.  How would you recommend doing it then?

 

I had a $25 sale that day, as well as a $2,500 return.  So it shows as a withdraw of $2,475 for the day.  How do I match them both to the same entry on the "Banking" screen?

JenoP
QuickBooks Team

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Hi there, Mmresd.

 

QuickBooks Online will only consider it a match if a downloaded transaction has a similar amount to an existing transaction in your bank register. 

 

If both transactions were downloaded in QuikcBooks, you'll need to separately match the $25 amount to the sales transaction. Then, match the $2,500 to the recorded withdrawal if you have a record of it in your bank register. 

 

Otherwise, click the Add button instead so they're added in your bank register.

 

Please see this article to get additional details on how to properly categorize banking transactions: Assign, categorize, edit, and add your downloaded banking transactions.

 

You can always add another reply below if you have follow-up questions. We'll revisit this thread from time to time to help you again. 

BethShearer14
Level 2

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Hi! I'm actually having the same issue. Through Shopify, there is only 1 transaction In my case; the transactions is $10.30 paid to Shopify; this needs to be matched to a sales receipt of $20.63 and a partial refund of an older sales receipt for $30.93. What other options are there? Bills/Bank deposits can't be 0 or negative; i can't match  a spend money transactions to a sales receipt like you can in Xero, and just putting the transaction to refunds like we normally do won't account for the sales receipt.

JamesDuanT
Moderator

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Hello BethShearer14,

 

The same goes with what JenoP explained on the previous response, you can only use the match if the downloaded and existing amounts are the same. Instead, I have a workaround that might work for you.

  1. Open the existing sales receipt ($30.93).
  2. Make sure you select Undeposited Funds in the Deposit to field.
  3. Click Save and confirm the changes.
  4. Click the + New button and select Bank deposit.
  5. Enter the affected bank in the Account field and the Date.
  6. Under Select the payment included in this deposit section, mark the sales receipt ($30.93).
  7. Go to the Add funds to this deposit section.
  8. Enter the affected account for the refund in the ACCOUNT column. 
  9. Enter the amount as negative (-$10.30) and click Save and close.

After that, you can match it to the downloaded transaction ($20.63) in the Banking page. Regarding with the downloaded transaction ($10.30), you can exclude it to prevent duplicate transactions in your register. You can use this link for reference: Exclude expenses from downloaded bank transactions.

 

Feel free to let me know if you require additional assistance. We got your back in this.

BethShearer14
Level 2

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

I'm not following; the only "downloaded transaction" that anything can be matched to IS the -$10.30; the existing Sales receipt is the $20.63 amount, and the -$30.93 is the refund that was included in the "shopify deposit" to get the -$10.30 transaction.

RenjolynC
QuickBooks Team

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Hi there, BethShearer14.

 

What my colleague JamesDuanT shared with you was the process of recording a fee or charge that should be deducted from the $30.93 amount.

 

For example, you record a sales receipt of $30.93 then comes a downloaded bank transaction of $20.63. While you can't match both transactions because of the charge, you will have to create a bank deposit of $30.93 including the charge that should be added as a negative amount -$10.30. Then, you will get a total of $20.63.

 

If this is not a fee or charge and is not recorded in QuickBooks, then you'll want to follow the steps above on how to exclude the transaction. 

 

You can also add more details here if you have additional questions. Thanks.

BethShearer14
Level 2

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Perhaps I'm not explaining it well enough?

 

First we have a Sales receipt from March 11th for $147.40, it gets added in our quickbooks and reconciled in quickbooks (with the bank deposit that has the Shopify fees) with the bank deposit transaction.

 

April 10th's Shopify payout includes a Sales receipt for $21.49 (which we've added to a bank deposit to include the Shopify fees of $.86) but it also includes a refund for the March 11th sales receipt of $30.93 (no fees are refunded) and so instead of a deposit, we owe Shopify $10.30, which then appears in our QBO bank account as a money spent to Shopify.

 

Normally we would just put this amount to Discounts & Refunds, but then the bank deposit is matched to nothing, and we do not want to exclude this transaction.

Catherine_B
QuickBooks Team

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Thanks for the clarification, BethShearer14.

 

The Sales Receipt that was record in QuickBooks is $20.63. The deposit that's downloaded from our bank feeds is $10.30. We'll add the $30.93 as a refund. 

 

We can follow the same steps provided by my colleague @JamesDuanT, however the amounts stated were interchanged. I'll show you how: 

  1. Let's open the Sales Receipt recorded within QuickBooks and ensure that the Deposit to account is Undeposited Funds.
  2. Create a Bank deposit (+New button > Bank deposit).
  3. Click the Account where these funds will be deposited to. 
  4. Select the Sales Receipt and in the Add funds to this deposit select the customer > account such as Discounts/Refund. 
  5. Enter the AMOUNT as $-3.93.
  6. The total amount of the deposit will now show as -10.30 which is to be matched on the transaction in our bank feeds. 
  7. Click Save and close

My colleagues and I are here to sort things out with you. Keep safe!

BethShearer14
Level 2

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

QBO doesn't let you save negative bank deposits though?

FritzF
Moderator

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Thanks for getting back to us, @BethShearer14.

 

Yes, that is correct. You must specify a transaction amount that is 0 or greater to save it.

 

Based on the information you've shared, there are two ways that I can think of to resolve this. The first one is to create a Journal Entry (JE). However, I suggest consulting your accountant for further assistance with the process to ensure your books are accurate for your business.

 

Please refer to this article for more information: Create a journal entry in QuickBooks Online.

 

The second one is to use a credit memo (CM) for the $30.93 instead of a sales receipt. Then, create an invoice for the $21.49 and link or apply the CM so you'll have a remaining credit of $10.30. To learn more about the process, consider checking out this article: Enter and apply credit memos and delayed credits in QuickBooks Online.

 

Reach out to me in the comment section below if you have any other questions or concerns. I'm more than willing to help. Have a good one!

Regina_Lend_A_Hand_Accounting
Level 9

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Only some of the advice that has been provided is correct for this scenario. When you refund a customer, you create a "Refund Receipt" in QBO under the Plus Menu. That refund receipt is deposited to the "Undeposited Funds" account. The original sales receipt is also "deposited to" the "Undeposited Funds" account. Then you "create" a deposit from the "Undeposited Funds" receipts (refunds and sales) under the Plus Menu "Bank Deposit" to "Match" the amount in your bank feed. You've got non-Accountants advising you to "Add Funds to this Deposit", which is incorrect in this scenario. The only time you add funds to a deposit to reduce a created deposit under the "Bank Deposit" Menu is when you are deducting an expense such as a merchant processing fee, recording cash back to another account such as "Owner Pay and Personal Expenses" (Equity), recording owner investments deposited with other customer receivables, or if you receive a refund check that is not a payment for a product or service that you sell and you need to credit the expense and add funds received to increase a deposit amount to match your bank feed deposit. There are a number of uses for the "Add Funds to this Deposit", but a refund receipt is not one of them.

donhuntley
Level 1

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

We had to cancel an event, due to the virus,  where $6000 was paid in $25-120 purchases over a 3-4 week period. I refunded the purchases using Refund Receipts over a 4 day period.  Consequently, my bank feed register deposit amounts do not match my refund amounts. It will be a major pain to undeposit my original deposits if that is what is necessary.  I'm not sure I understand you, but if I match a deposit to a refund, wouldn't Quickbooks Online reject it because it's $0.  It would be perfect if I could simply the negative refund amounts. That would take me about 10 minutes. Of course, QBO won't let me do that.

LieraMarie_A
QuickBooks Team

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

I can see the importance of matching your transactions from your bank feeds, @donhuntley.

 

The refund offsets your sales that results to a zero balance when you make a deposit. However, QuickBooks won't allow to match transactions with below zero amounts. For now, since you've already recorded these transactions, you may consider excluding them in your Bank Feeds. 

 

You can reconcile your account to make sure that your book is balanced. Check out this article for more details: How to Reconcile an Account?

 

Please let me know if you need further assistance. Stay safe.

tpvetere
Level 1

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Why not? Quickbooks should not limit us here. If a sale of $1,000 nets out with a refund of $500 with a different customer, we should be able to match both the sale and the refund. Very poor limitation on Quickbooks part. It's 2020 folks, wake up.

MaxGLWC
Level 2

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

 
MaxGLWC
Level 2

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

I'm in the same boat.  A sales receipt and a refund receipt were issued in Shopify.  The resulting payout from Shopify is actually a charge for -$457.  No combination of tools and work arounds will allow me to match the transaction in the banking feed while preserving the sales and refund receipts created in QBO.  

 

I do not like the solution above as excluding the transaction from the bank feed will require improper rectification of the account balance in QuickBooks.  Is there really no better way?

jsedigo1
Level 2

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

It is frustrating that it's already 2021 but this has not been resolved. I mean, QBO users have been asking about this for years now but no definite solution to this problem. 

 

I would not want to exclude a transaction just because I cannot find any match to it. I only exclude a transaction because it is a duplicate. If I can actually match it to a transaction (say sales receipt, refund receipt), why wouldn't I? It can actually reduce time in booking transactions and it leaves us to a less erroneous task.

 

I was hoping I could find an answer since it's been years since this concern was posted. 

 

Customer support is really friendly and helpful but I do not think this is something they can resolve. Only the developers can resolve this. I do hope you listen to what your customers have to say. 

MikeD63
Level 1

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

This is my walk around. Not sure if this is the correct way to do it, but it works for me. I created a new bank account called "XYZ". I created my invoices and record a payment to XYZ account. I created a refund receipt as a credit card payment method from the XYZ account. I go to my regular bank account, locate the withdrawal and records it as a transfer to the XYZ account. The XYZ account should be $0.00 now.

BethShearer14
Level 2

How do I match a sales receipt and a refund receipt to one quickbooks banking transaction?

Here's the workaround we went with:

1. Put the transaction in the bank feed to undeposited funds

2. Make the refund a journal entry with one side to your refunds account and one side to "undeposited funds." If you need to add the items back to your inventory, do an inventory adjustment for that date.

3. Enter the sales receipts as normal

4. Do the bank deposit, and when you go to select the sales receipt ALSO select the journal and the transaction. Your bank deposit should equal "0" and you can then submit it.

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us