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January 17, 2023
Question

How do I post a charge back taken out of my bank account?

  • January 17, 2023
  • 1 reply
  • 0 views
How do I categorize the credit to my bank account for a charge back?

1 reply

January 17, 2023

Hi there ashlandfarm1,

 

It's important that all your transactions be entered correctly so that your books can be well balanced. QuickBooks Online is a great tool able to help you keep track of sales and expenses in order to see the profit of your company. I can point you in the right direction for assistance with entering this transaction.

 

If this is a chargeback you made for an expense appearing on your bank account, then one possible way would be to enter it as a refund receipt, or possibly a journal entry. in order to know which of these transaction types to choose, as well as which accounts to affect, I recommend speaking to an accountant. They will be able to assist you in the best way to enter the transaction so that your books can be well balanced. You can invite your accountant to your QuickBooks account so that they can view your books by navigating to the My Accountant tab. You can also find an accounting professional near you by clicking on the Find a pro to help button in that section.

 

If you have any other questions, feel free to reach out here.