Yes, you can, alex@bastamotors.
To start, let's create a credit memo in QuickBooks Online. Here's how:
- Go to + New and select Credit memo.
- In the Customer field, select the appropriate customer.
- Enter the category, product, or service you’re getting credit for.
- Click on Save and close.
Then, I'd recommend adding an expense transaction. I'll show you how:
- From + New, select Expense or Check.
- In the Payee field, select or enter the desired customer.
- Select the bank the money is being refunded from in the Payment account field.
- In the Category field, select Accounts receivable.
- Enter the amount of the refund.
- Click Save.
Once done, you can now create a payment and select the expense recorded and the existing credits. Here's how:
- From + New, select Receive Payment.
- Choose the customer name.
- Add the necessary details.
- The balance should be 0 as they will cancel each other out.
- Select Save and close.
For further guidance, please see this article: Record a Customer Refund.
Additionally, I've added an article that'll help you match the record in QuickBooks Online. This keeps your books accurate: Categorize Transactions in QuickBooks Online.
Please keep me posted in the comments if you have other concerns about managing invoices and payment transactions. I'm always ready to help. Take care always!
