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Experienced Member

I issued a credit card sales receipt and deposited the funds. Now I have issued a credit card refund, what entry do I make to reverse the original entry?

 
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Re: I issued a credit card sales receipt and deposited the funds. Now I have issued a credit card...

It's nice to see you here today, @steve12,

 

I'd be happy to get you pointed in the right direction so that you can reverse the credit card transaction.

 

May I know if you're referring to reversing the credit card sales receipt? If so, you can do this in the Merchant Services Center. Here's how:

  1. Login to your Payments account.
  2. From the menu bar, choose Processing Tools, then Reverse a transaction.
  3. Locate the transactions you want to reverse.
  4. Click Search.
  5. Select the transaction(s) you want to reverse from the list and then click Submit.

Please be reminded that transactions processed in online cannot be downloaded to QuickBooks. To keep your QuickBooks Online accounts up-to-date, you'll need to enter a reversal manually. To reverse the amount you can create an offsetting refund receipt (if this is a payment), or an offsetting sales receipt (if this is a refund).

 

Here's how:

  1. Click the QuickBooks Plus icon.
  2. Under the Customers section, choose Refund Receipt.
  3. Enter the refund information then click Save and close.

Here's a great article you can check to know more about the process: Void or Refund Transactions in QuickBooks Payments

 

Please know that I'm only a post away if you should have any questions. Have a great day!