Payments
Thank you for replying, @MikahKreko. I'm chiming in on this thread to help you further. You recorded a donation as a sales receipt in January and subsequently issued a refund to the donor’s credit card. You're correct – it's appropriate to change it to credit card (CC). I'd be glad to provide more details on this and guide you through the steps.
Refunds typically don't appear as separate transactions on your bank statement, and are instead grouped with other CC transactions processed on the same day. Therefore, recording it as a CC refund in QuickBooks will align your books with your actual bank transactions.
Since you've created the credit memo, you can follow these steps:
- Go to the Customers menu and click Customer Center.
- Select the customer profile and double-click on the credit memo.
- Ensure that in the Item column, you've chosen the name of the item being returned.
- If you charged sales tax when you sold the item, be sure the item is marked as taxable also.
- On the top portion, select Use credit to give refund.
- In the Issue this refund via field, select the type of credit card you're using for the refund.
- Make sure the Process credit card refund when saving checkbox is not selected.
- Click OK.
To verify everything is accurately recorded, consider running a Profit and Loss Detail report. Refer to this guide for the detailed steps: Customize company and financial reports.
When you're ready to reconcile your bank account, I'm adding this article as a guide: Reconcile an account in QuickBooks Desktop.
I hope this helps clear up the process for issuing a refund via credit card. If you have any more questions or need further assistance, please feel free to return to this thread. We’re here to support you every step of the way. Take care!
