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ks_908CoC
November 7, 2022
Question

credit card refund for a sales receipt

  • November 7, 2022
  • 1 reply
  • 0 views

Hello. I am relatively new to bookkeeping and a basic level QuickBooks desktop 2022 user. Our QB is not connected directly to our bank and we use a 3rd party merchant service (Authorize.net). We received a credit card payment for a one-time service from someone who is not a usual customer so I entered the transaction as a sales receipt instead of an invoice. Several weeks later I found out they were quoted the wrong amount and now I need to issue them a partial refund. I already processed the refund through Authorize.net but how do I record this in QB? Thanks for any input.

1 reply

MariaSoledadG
MariaSoledadG
November 7, 2022

Let me guide you on how you can record a refund, ks_908CoC.

 

QuickBooks makes it easy for you to give money back or credit to your customers. First, you can create a credit memo. You can follow the steps below on how you can do it.

 

  1. From the Customers menu, select Create Credit Memos/Refunds.
  2. From the Customer:Job drop-down, select your customer.
  3. Enter the items you're giving credit for, then select Save & Close.

 

Once done, give a refund to your customer. Here's how:

 

  1. The check is filled out automatically. Select OK.
  2. Link the check to the overpayment. Go to the Customers menu and then select Receive Payments.
  3. From the Received from drop-down menu, select the Customer.
    Then, select the Discounts and Credits icon.
  4. In the Available Credits section, select the check you created and then Done.
  5. You may see a prompt to confirm the transfer. If you do, select Yes. The amount will be applied automatically to the invoice.
  6. Select Save & Close.

 

Additionally, QuickBooks has three Bank Feed modes wherein each display and handles transactions differently. To know more on how QuickBooks makes a match, check out this article for your reference: Add And Match Bank Feed Transactions In QuickBooks Desktop.

 

Don't hesitate to keep in touch if you need anything else about recording a refund. Remember, we're always right here to assist you further.

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