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Join nowI 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?
Solved! Go to Solution.
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.
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.
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.
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.
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