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Buy nowI'll provide steps to help you handle the chargeback, gesmgtservices.
Here are 2 ways on how you can enter a chargeback in QuickBooks Online:
Process it as a refund.
Record the transaction as a business expense.
To process a refund, you can follow these steps:
You can open this article for reference: Refund customer payments in QuickBooks Online.
For recording the business expense, here's how:
Once done, you can run a Transaction List by Customer report to see the transactions created for that customer.
You'll also want to check out these articles that you can use in the future:
I'm always here to help if you have other questions regarding QuickBooks Online. Take care and stay safe.
I hoped to be able to show the chargeback as a deduction on the original invoice because the amount is known at that time. Currently, we show the net revenue but this understates revenue and the offsetting expense.
I want to show the deduction / chargeback on the original invoice.
Thanks for your prompt response, @gesmgtservices.
Let me show you how to show a deduction/chargeback on the original invoice.
You can create a new service item and name it "Chargeback" or anything and add it on the invoice. Make sure to check for an accountant if you're not sure about which Income account the item should affect.
Once done, you can then add the service item on the invoice and ensure that the chargeback amount is in a negative value, then save it. This way, it will deduct the original invoice amount.
If you have recently created an expense, you can delete it under Expense Transaction in the Expenses menu.
You can also delete the sales receipt if you had created one when you followed the steps above.
Here's how:
1. Choose Accounting at the left panel and then select Charts of Account.
3. Find the name of the bank where the created sales receipt has been deposited.
4. Click View register under Action column.
5. Select the sales receipt and click it to expand the page.
6. Hit the Delete button.
7. You'll be prompted with Are you sure you want to delete this transaction? Click the Yes button.
I appreciate following the steps above, so if you have any questions please let me know. I'm always here to help. Have a good one!
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