Skip to main content
JackS
JackS
December 14, 2020
Question

Help Us Make QuickBooks Better

  • December 14, 2020
  • 1 reply
  • 0 views

 

 

 

Help Us Make Things Better

Here at QuickBooks we really care about what our customers think. So much so, that we've created a survey where you can have your input and shape the way we provide services to you in the future.

 

 

 

Coronavirus Support

For every completed survey, we'll be donating $1 to the World Health Organisation (WHO) to support the battle against COVID-19.

 

 

Click here to complete the survey.

 

 

 

1 reply

P
Pjyani
March 2, 2021

Hi 

Need your help with the followings :  

1) Customer issued credit note, paid online, payment gets downloaded to bank transactions. what is the easy way to allocate the refund to credit note ?  down loaded transaction does find the match or does not automatically match with credit note. QB STRANGLEY creates zero entry when credit note allocated through the bank payment MANUALLY  !! 

2) transactions having different classes can not be imported with classes. is there any way to import classes as well ?

3) when new supplier is created, it just allow to link the overheads accounts but does not let link the cost of sales of accounts !! any solutions ?

4) VAT details report : does not let filter the data with classes if repost is needed class wise.

 

at so many places QB online needs improvements to save accountants time. sent emails or feedback many times but QB does not seems to be wanting to improve.  Let see now !!!!

thanks 

 

 

 

 

 

LieraMarie_A
LieraMarie_A
March 2, 2021

This is the right place to get the answers you're looking for, @Pjyani.

 

In QuickBooks, you can use the credit note to reduce the customer's balance on their next invoice. Some customers prefer this option instead of a refund. Refer to this article for more information about credit notes: Create and apply credit notes or delayed credits in QuickBooks Online.

 

To clarify, are you trying to give a refund to your customer? You can use refund receipts if a customer asks for a refund for an item or service.

 

  1. Select + New.
  2. Select Refund receipt or Give refund.
  3. Select the Customer ▼ dropdown, then select the customer you want to refund.
  4. Select the Refund From ▼ dropdown, then select the bank you deposited the payment for the invoice to.
  5. Add all products or services the customer returned in the Product or service column.
  6. Make sure to fill the quantity, rate, amount, tax, and other fields accordingly, then select Save and close.

 

On the other hand, if you'd like to refund your customer to settle their open credits and overpayments, check out this link for the detailed steps: Refund a customer's overpayment or credit.

 

You can also check this article for additional info: Handle a customer credit or overpayment in QuickBooks Online.

 

Second, you can only add classes to transactions after importing them to QBO. Adding classes to the transaction or the individual line items after import will ensure that your transactions track class as you'd like them to.

 

Third, the cost of sales is only affected when you sell inventory items on invoices or sales receipts. When you set up your inventory item in your Inventory List, QuickBooks automatically adds two accounts to your company file's Chart of Accounts:

  • Inventory Asset - Other Current Asset
  • Cost of Goods Sold (COGS) - Cost of Goods Sold

 

Check out our blog about how to calculate and record COGS for more insights.

 

Lastly, there are only a few reports that allow you to filter the data with classes. These include the following:

  • Sales by Class Detail
  • Sales by Class Summary
  • Purchases by Class detail

 

I'd suggest running the desired reports. Then, add the columns, that include VAT information, such as the VAT Code, Tax Amount, and Net Amount columns.

 

  1. Go to the Reports menu.
  2. In the Find report by name field, enter the report's name that you'd like to view. Then, select it.
  3. Click the Customise button.
  4. Click Change columns.
  5. Select the VAT Code, Tax Amount, and Net Amount columns.
  6. Click Run report.

 

You can read the write-up about running reports by class for more information. Additionally, to see the complete list of available reports for your QuickBooks Online version: Reports included in your QuickBooks Online subscription.
 

You can also export them to Excel to help give you the flexibility to use them. Simply click the Export icon and select Export to Excel. 

 

Feel free to leave comments about this for our product development team through the Feedback feature accessed in the Gear icon in the upper right of your account. You can check out this article which also outlines the steps: How do I submit feedback?.

 

Keep in touch with me here should you have any additional questions or concerns. I'm always available to help

P
Pjyani
March 3, 2021

Dear Liera, thank you for your prompt reply. Please see the issue I face every time with the customer refund. I have attached screen shots for your information.

- Customer overpaid, overpayment refunded online, transaction got down loaded automatically in Banking. Now issue arises here as QB does not match automatically with the customer overpayment as it would do with suppliers bills. Even after looking for transaction in "find match", it does not list down  the overpayments from customers as it would do the suppliers bills. To post refund (see screen shot 1), I have to select the transaction type, then customer name, and the category, finally it gets posted to customer account (Screen shot 2). Now to match the refund with overpayment, I have to enter the refund manually as New-Suppliers-Cheque- select customer payee and enter the relevant required details. Once this manual entry is done, it matches itself automatically with the  downloaded refund laying in banking section. once I match both the transactions, the refund gets posted to the relevant customer account. The problem does stop here. Both refund transactions appear in balance column in customer account, unfortunately both do not get squared off, which distorts open balance and overdue balance in the right hand side corner as well as customers' dues report. Again to square both transaction each other, I have to select the next unpaid invoice if any there, receive payment,  then select the refund entries with zero amount in "AMOUNT RECEIVED" button, save it, BUT here it creates zero amount entry in customer ledger account (see screen shot 4). If there is no unpaid invoice in the customer account after these both refund entries, then as far as i know there is no option to square off. 

Please help me out what steps I am missing or where I am going wrong. This issue eats up my lots of time when  there are many refund entries with customers overpayments. 

Thanks

 

Terms & ConditionsAccessibility statement