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abpaul
Dec 15, 2023 3:35 PM UTC
Solved

how to record negative credit card batch transaction to quickbooks desktop

QB desktop will not let me record a negative credit card batch.  How do I get around this to reconcile with my bank?

    JanbonNAnswer
    Dec 15, 2023 10:52 PM UTC

    Thank you for your feedback but this process only works for positive deposits, not negative deposits where the refund is larger than the undeposited funds.


    Hello there, Alice. Thanks for the additional information.

     

    Since the refund is larger than the amount in your undeposited account, we may need to create a Journal Entry to offset the Undeposited Funds. Keep in mind to consult with your accountant for this part. Here's how:

     

    1. At the top menu bar, go to Company.
    2. Select Make General Journal Entries.
    3. Edit the DATE.
    4. Enter the necessary details.

     

    Moreover, I encourage you to check this article about creating a credit memo or refunding a check: Give your customer a credit or refund in QuickBooks Desktop for Windows.

     

    Additionally, you can check this article for solutions to your reconciliation problems: Fix issues when you're reconciling in QuickBooks Desktop.

     

    You can always come back to this thread if you have additional questions about your bank transactions. I'm here to assist you in any way I can. Have a good one.

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    10 replies

    jeanbiverly_
    Dec 15, 2023 4:58 PM UTC

    Hi, Alice.

     

    QuickBooks Desktop (QBDT) won't allow a negative total amount when recording transactions manually. However, you can use the Batch Enter Transactions option to enter negative amounts for credit card charges or credits. I'd be glad to guide you through the process.

     

    Here's how:

     

    1. Go to the Accountant menu and select Batch Enter Transactions.
    2. Choose Checks as the Transaction Type and then pick a Bank Account.
    3. Input the Date, Number, and Payee.
    4. Select the credit card as the affected Account.
    5. Enter the amount as positive.

     

    Doing this process will decrease both bank and credit card balances.

     

    For more information, you can refer to the following articles:

     

     

    To make sure your accounts in QB match your real-life bank and credit card statements, you can visit these articles for guidance:

     

     

    If you have any other concerns apart from entering a negative credit card transaction, please feel free to reach out to the Community. We're always here to help you out.

    abpaulAuthor
    Dec 15, 2023 6:55 PM UTC

    Thank y

    Thank you for your quick Response. I have QuickBooks Retail Premiere 2021.  I do not have an accountant menu nor is it listed in my help menu.  Perhaps I need to be more specific.  Credit card transactions imported from my POS software are available as Undeposited Funds in QB.  If a Refund Due to a Customer, etc. exceeds the credit card charges (Undeposited Funds) for the day, this negative amount is deducted from my bank account by my Credit Card Processor.  QB does not let me make a negative deposit.  I do not see any means to attach two QB transactions to one transaction downloaded from my bank.  I appreciate any answers you may provide.

    ou for your quick Response. I have QuickBooks Retail Premiere 2021.  I do not have an accountant menu nor is it listed in my help menu.  Perhaps I need to be more specific.  Credit card transactions imported from my POS software are available as Undeposited Funds in QB.  If a Refund Due to a Customer, etc. exceeds the credit card charges (Undeposited Funds) for the day, this negative amount is deducted from my bank account by my Credit Card Processor.  QB does not let me make a negative deposit.  I do not see any means to attach two QB transactions to one transaction downloaded from my bank.  I appreciate any answers you may provide.

    JanbonN
    Dec 15, 2023 9:31 PM UTC

    Thanks for the prompt response, Alice. And for providing additional details about your concern.

     

    Allow me to share how you can record the credit card charges.

     

    1. At the top menu bar, go to Banking.
    2. Select Make Deposits.
    3. Choose your Deposit To account, then edit the Date.
    4. Click Payments. A new window will pop up with the transactions in the Undeposited Funds. Check the transactions that were used to pay the refund for that day. Hit OK.
    5. Create another line for the charge that was made to your bank account by the Credit Card Processor. Fill in the necessary details.
    6. Click Save &Close.

     

     

    Please also consider contacting your accountant for more details on recording these transactions.

     

    In addition, I recommend reading this article about matching your bank and credit card statements: Reconcile an account in QuickBooks Desktop.

     

    Return to this thread if you have further concerns about your bank transactions. We're available 24/7 to assist. Have a great day!

    BigRedConsulting
    BigRedConsulting
    Oct 25, 2024 9:36 PM UTC

    @abpaul 

    There's no need for a Journal or other workaround.

     

    QuickBooks will let you create a backwards/negative deposit if all of the the line items use credit card type Payment Methods. 

     

    It does this to solve for exactly your case, where the CC batch is negative due to a refund.

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