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T
TomBirmingham
June 13, 2024
Question

Deposits that include sales receipts and credits that total to a negative amount -

  • June 13, 2024
  • 1 reply
  • 0 views

I process my Credit Cards using Stripe.

I use QB online.

Occaisionally I have a day when my Stripe distribution is a negative number for instance a recent deposit includes - 

 

Sales Receipt 1 - $150

Sales Receipt 2 - $100

Customer Refund - $450

Credit. Card Discount - -5.50

 

Total "Deposit" - -$205.50

 

As this is a debit to my back, the transaction comes into QB as a debit, and can't be "Matched" with Sales Receipts and Credit Memos as they don't display.

 

Is there any way to change the transaction so QB gives me access to the Sales and CR transactions to match the original transaction wiith Stripe?

 

Thank's in advance - 

 

Tom

1 reply

H
Heide DC
June 13, 2024

I know the importance when you have deposits due to refunds or credit card with discounts, Tom. Let me share information about recording negative balances in QuickBooks Online (QBO).

 

Currently, there's no option to change the type of transaction displayed in the program when matching the original transaction with Stripe. However, if the transaction is positive after downloading, QuickBooks will populate the transactions with sales or money in the type of transaction.

 

On the other hand, if the transaction is negative when downloaded, QuickBooks repopulates the transactions with expenses or money-out types of transactions.

 

Since the download is negative as their combined sales receipt and refund, this will not be able to match the existing transactions.

 

Here's how to clear the transactions manually.

 

  1. Log in to your QBO account.
  2. Go to the Gear icon settings, then select  Chart of Accounts.
  3. Open the transactions, then make the checkmark status C.

After that, you can exclude the downloaded negative amount.

 

Additionally, refer to this article for more information on managing delayed credits, and handling credit memos in QBO: Create and apply credit memos or delayed credits in QuickBooks Online

 

You can go over these references to learn more about managing your income and other sales-related transactions:

 

 

If you have any further questions about clearing your negative balance in QBO, please don't hesitate to reply in the comment section. We're always here to lend a hand. Have a good one.

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