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jbirston
April 16, 2024
Question

Refund a wrong payment and pay invoice with correct payment

  • April 16, 2024
  • 1 reply
  • 0 views

Hello
I need help with a refund problem. (I am working on a historical calendar year, and we are not using QBOs payments yet).

I have a payment made by a credit card that was paid using the wrong client's CC. So I need to refund that payment and keep the invoice open for the proper card. All payments and refunds were made in different batches.

Payment 1 - Wrong client's card used. Batch 1
Refund - Refunded first payment - Batch 2
Payment 2 - Correct Card used - Batch 3

Thank you!

1 reply

J
JamesM4
April 16, 2024

Hi jbirston,

 

It's great to have you reach out to us again. QuickBooks is a flexible program that helps you achieve your accounting goals. I'll be glad to help share more info so you're on the right path. 

 

The program makes it easy to process a refund. If you'd like to learn more about refunding in QuickBooks, check out the following article as it shows you how to: Void or refund customer payments in QuickBooks Online. You can also record the record a customer refund using the guidance provided in this article here. After this the payment in question can be made as normal.

 

Let me know if you have other questions, I'll be one message away in case you need anything else. Otherwise, I wish you a great rest of the week. 

J
jbirstonAuthor
April 17, 2024

All of these links are assuming I have QBO payments. These transactions were made via our POS machine. 

 

here is my problem. 

Batch 1 - Close properly and my QBO deposit matched my bank

Batch 2 - Has the invoice I need to refund. So I have approx 3000+ in proper payments and a refund to pay and create a deposit that matches the bank feed. 

The issue is if I create a refund, it keeps the invoice at a zero balance. I need the steps to refund the credit card so that invoice is open again for the proper payment and record the refund so my deposit matches

 

Why does QBO make this so complicated? 

When you refund an invoice, the balance should revert to the full amount payable or become a bad debt.

 

A
Amanda-B
April 17, 2024

Hi jbirston. Thanks for getting back to us. Your first step is to remove the payment from the invoice, so it can be recorded accurately. Then follow the steps here, to record the invoice payment. Please note that making changes to historical transactions can have a negative impact in other areas of your books. For this reason, it's best to speak with an accounting professional before you proceed. If you don't have an accountant, follow this link to locate a ProAdvisor in your local area.

 

Should you require additional assistance, please don't hesitate to contact us outside of this forum. It would be our pleasure to work with you directly, and ensure you're able to complete your QuickBooks goals without delay!

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