How can I match a refund to a Bank Transaction?

killian-otavo-ie · ‎July 15, 2024

Hi

I have a Bank Transaction of a debit (Spent) €13.65... this is for a refund for stripe.

Basically a customer refund of €26.60, but there was no balance on stripe, so the took away from my next payout.

The refund is like: payout of +€13.50 (a new order being paid out to me) - fees -€0.55 = €12.95 - refund of €26.60 so they debited my bank €13.65.

So in my sales transactions I have an orginal invoice for the 26.60 which is matched to the payout associated with it (so not part of what i need to match now), a sales invoice for 13.50 and a refund of -26.60, and in bank transactions i have a debit of 13.65.. how can i match these .... help

Rasa-LilaM

Yes, you can delete the €26.60 refund as well as the invoice payment, Killian. Then, write a check with the invoice details and fees.

To remove the refund:

Navigate to the Transactions menu on the left panel and select the All sales tab.
Look for the refund you're working from the list.
In the Action column, select Delete from the ▼ dropdown.
Tap the Delete button to confirm the action.

For your other entries, follow the steps in this article to carry out the task: Void or delete transactions in QuickBooks Online.

After performing these steps, write a check for the transactions. See the attached screenshot for visual reference:

For more insights about removing or processing refunds to customers, feel free to browse this article: Void or refund customer payments in QuickBooks Online.

In addition, you can use these resources to keep your suppliers and customers balance in order and handle other sales-related entries:

Keep in touch if you have other banking concerns or additional questions about managing other transactions. The Community is always ready to provide the assistance you need.

View solution in original post

Rasa-LilaM

We'll have to write a check with the invoice details and fee so you can match it with the downloaded data, Killian.

QuickBooks Online (QBO) is unable to find a match when a transaction is using one category (Expense). It will only recognize a match if the transaction contains an A/R and Expense account.

When you're ready, let's proceed and add the entry to your company. Here's how:

Navigate to the New menu in the upper right and select Check under Vendors.
Click the Payee drop-down and select the supplier's name.
Pick the account from the Bank account drop-down ▼where you'll withdraw the money.
In the Category details section, go to the Category section and type Accounts receivable (A/R) in the Category field.
Enter the transaction details in the Description field—for example, the original invoice, and the new invoice.
Type the figure for each entry in the Amount field.
Enter the expense account you wish to use for the fee in the Category field and key in the entry details in the Description field.
Type the €0.55 fee in the Amount field.
Click Save and close.

After performing these steps, navigate to the Bank transactions screen and match the €13.65 transaction to the one in your company. Refer to this article for detailed instructions: Match online bank transactions in QuickBooks Online.

You can consider creating a bank rule to help speed up the categorization process for your entries. In case you need more details about keeping your transactions organized and balancing your accounts, refer to these resources for the full details:

Visit the Community again if you have other banking-related concerns or additional questions about matching your downloaded data. We're always ready to provide the guidance you need.

killian-otavo-ie

Hi

When I follow those steps it won't let me save due to the negative figure of -0.55

Can I delete the refund of €26.60 and invoice of €13.50, and then put in a cheque as per your instructions above with a one line entry as say stripe fee of €13.65 and then in the memo section outline where the figure came from i.e. the original invoice numbers and fee details and refund details. Or is that not allowed?

Rasa-LilaM