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topnotchcarpentr
September 18, 2024
Solved

How to record a refund on my credit card

  • September 18, 2024
  • 1 reply
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How to record refunds on your credit card for purchases that we returned
Best answer by

Hello there.

 

Welcome to the community. Let me assist you in recording refunds on your credit card for returned purchases in QuickBooks Online (QBO).

 

Here's how you can do it:

 

  1. Sign in to your QuickBooks Online account.
  2. Click the + New button, then select Credit card credit under the Vendors column.
  3. In the field labeled Payee, select the vendor from whom you received the refund.
  4. In the Bank/Credit account field, choose the credit card account that received the refund.
  5. Next is input the date the refund was processed.
  6. In the Category details section, select the same expense account you used for the original purchase.
  7. Enter the amount of the refund.
  8. Once done click on Save and close.

 

After this, ensure to review your transactions so they match the Credit card credit entered. If they don't match, double-check that the payee (vendor), date, account, and amount are the same.

 

Furthermore, you can visit these articles for future assistance. They contain steps on how to effectively run and customize your reports based on your business preferences:

 

 

The process mentioned above ensures that your accounts are accurately balanced and the refund is properly recorded. If there's anything else you need help don't hesitate to reach out.

1 reply

A
Anonymous
Answer
September 18, 2024

Hello there.

 

Welcome to the community. Let me assist you in recording refunds on your credit card for returned purchases in QuickBooks Online (QBO).

 

Here's how you can do it:

 

  1. Sign in to your QuickBooks Online account.
  2. Click the + New button, then select Credit card credit under the Vendors column.
  3. In the field labeled Payee, select the vendor from whom you received the refund.
  4. In the Bank/Credit account field, choose the credit card account that received the refund.
  5. Next is input the date the refund was processed.
  6. In the Category details section, select the same expense account you used for the original purchase.
  7. Enter the amount of the refund.
  8. Once done click on Save and close.

 

After this, ensure to review your transactions so they match the Credit card credit entered. If they don't match, double-check that the payee (vendor), date, account, and amount are the same.

 

Furthermore, you can visit these articles for future assistance. They contain steps on how to effectively run and customize your reports based on your business preferences:

 

 

The process mentioned above ensures that your accounts are accurately balanced and the refund is properly recorded. If there's anything else you need help don't hesitate to reach out.

B
brrrrrrrrr
June 4, 2025

a refund would be classed as a credit card debit - how do you log that if you can't do a negative figure?

 

E
EmanE17
June 4, 2025

You can record a refund without entering a negative number by creating a refund receipt in QuickBooks Online (QBO), brrrrrrrrr. I'll share some details on this matter.

 

Creating a refund receipt is essential for capturing the details of the refund, as this document reflects that money was returned without requiring a negative figure.

 

To create a refund receipt, please follow these steps:

 

  1. Select + New and click on Refund receipt.



  2. Hit the Customer dropdown, then choose the customer you want to refund.
  3. Click the Payment method dropdown, then choose the necessary payment method.
  4. Press the Refund From dropdown, then select the bank account into which you deposited the payment for the invoice.



  5. Add all products or services the customer returned in the Product/Service column.
  6. Make sure to fill in the date, quantity, rate, amount, sales tax, and other fields accordingly, then select Save and close.

 

Keep in mind if you want to give a partial refund, only add the items or amount you want to refund.

 

Additionally, for refunds or return transactions, you may incur a fee depending on your pricing plan and the type of transaction. For more details, please refer to this article: Understand fees for refunds or void transactions.

 

Fill us in if you need further assistance with processing customer refunds in QBO. The Community team will always be here to help.

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