Thanks for getting back to this thread, Ryan.

I'm joining this thread to help you further with recording the refund in QuickBooks. Yes, both entries will post duplicate records in the bank if they are created separately. I'll share the steps so you don'r post double amounts in your bank.

For this, you'll have to create the refund receipt and deposit it to the Undeposited Funds account. Here's how:

1. Go to the + New icon.
2. Choose Refund receipt, then select the Customer ▼ dropdown.
3. Pick the customer you want to refund.
4. Select the Refund From ▼ dropdown, then select the Undeposited  Funds.
   
5. Add all products or services the customer returned in the Product/Service column.
6. Make sure to fill the Date, Qty, Rate, Amount, VAT, and other fields accordingly, then select Save and close.

Once done, you can deposit the refund to your bank and it should detect a match in the Banking page. When you're ready to deposit, just go to the + New icon then Bank deposit. Select the bank and the refund you recorded earlier.

I've prepared some resources in case you need some reference about the processes in this topic. Click the links below:

• Void or refund customer payments in QuickBooks Online
• Record a customer refund or supplier refund in QuickBooks Online
• Categorise and match online bank transactions in QuickBooks Online

Let me know if you have other concerns with recording the refund. I can share some more insights and assistance anytime. All the best.