Refund via Square; Matching Transactions in Quickbooks Online
- December 12, 2021
- 1 reply
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Hi there!
I run a short term rental cottage business with 3 cottages in total. My merchant is Square. On 12/02/2021, I accepted a virtual payment from a Customer A via Square for a total of $345.00 ($300.00 + $45.00 NS HST). On 12/03/2021, I had to issue Customer A a $172.50 ($150.00 + $22.50 NS HST) refund from my Square terminal. I thought the Square terminal would withdraw $172.50 from my bank account (this would have made matching the transaction in QuickBooks Online very easy).
On 12/03/2021, I accepted a payment of $194.35 from Customer B. Instead of Square paying me out the full amount for Customer B, Square withdrew the refund amount for Customer A from Customer B's deposit. So, the deposit I received was for $22.56 (total for Customer B minus refund amount for Customer A minus merchant service charge for Customer A).
I have no idea how to match these transactions in Quickbooks Online. I processed the refund for Customer A by issuing a refund receipt in Quickbooks Online but I am not entirely sure if this was the correct way to do it. If you have a closed invoice (paid in full), are you able to issue a refund receipt in Quickbooks Online? How am I supposed to match up these transactions in Quickbooks Online?
Thank you.