Skip to main content
G
ggamble17
December 22, 2022
Question

Matching Stripe Refunds in QBO

  • December 22, 2022
  • 1 reply
  • 0 views

Hello! We recently had to issue several refunds via stripe to our customers. I am looking for the best way to record these refunds in Quickbooks. I have an expense transfer in Stripe in our banking tab and have tried matching that to the refunded transactions recorded as "expenses" and as "sales receipts." I have not had luck, either way, finding these expenses and sales receipts to match. I have recorded both in "Undeposited Funds" which is where we track our Stripe transactions. Any support on the best way that I should be documented these refunded charges in a way that matches the stripe transfer would be amazing. Thanks! 

    1 reply

    SME Bookkeeper
    SME Bookkeeper
    December 23, 2022

    Hi!

     

    I think I can help you out.

     

    1. If are doing business in Cash basis, Only then use undeposited fund. Otherwise not. It will make you books messed up.

     

    2. For stipe fees, wise fees, zelle fees these type of payment processor platform fees record use the a separete Chart of Account.

    Like Expense - Finance cost/fees - Account Name (XYZ Fees)

     

    3. You initiate refund, but do you record the invoice & receive payment in quickbooks? 

     

    However, create Customer Refund from +New.  

    In the name of customers generate separate Customer refund, then match with statement line in stripe.

     

    Then your statement line shows match in Bank panel in quickbooks, hit the match.

     

     

    Hope it’s going to be work. Feel free to comment. 

     

    If you need bookkeeping service feel free to DM.

     

    Thanks

    wsraaz

    Terms & ConditionsAccessibility statement