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M
M-BSE
September 8, 2022
Question

Record negative Deposit, due to refund via Stripe (external processor)

  • September 8, 2022
  • 1 reply
  • 0 views

Stripe triggered a reverse payout to our bank account immediately after we issued a $200 refund for an online order. The original order occurred in a prior period, and those funds were already deposited. I now need to record the $200 withdraw from the bank account in the new period.  The solutions for this situation in Google are for QBO not QBD.

 

Thanks.

1 reply

R
Rasa-LilaM
September 8, 2022

Thank you for the detailed post, sevans.

 

The information will help us determine how to handle the entry correctly. Let's enter the $200 as a refund in your company file and enter the correct period to keep your records accurate. This is to ensure it matches your real-life transaction. 

 

In QuickBooks Desktop (QBDT), you can refund cash payments, checks, or back to the credit card your customer used. Also, QuickBooks Payments handles the processing of refunds made to credit cards. When you're ready, follow these steps to track the entry:

 

  1. Sign in to QuickBooks Payments from QuickBooks Desktop.
  2. In QuickBooks Desktop, head to the Customers menu and select Create Credit Memos/Refunds.
  3. From the Customer:Job drop-down, choose the customer you're working on from the list.
  4. Input the products and services you need to refund.
  5. Press Save & Close to open the Available Credit window.
  6. From there, tick the radio button for Give a refund and then OK. if you wish to give credit for future payments, select Retain as an available credit and then OK.
  7. In the Issue a Refund window, press the Issue this refund drop-down and choose the payment method used for the entry.
  8. Press the OK button once done.

 

To learn more about the process, see the following guide: Void or refund customer payments in QuickBooks Desktop. You'll also know when to give a customer credit, remove a credit memo, and determine the transaction's funding time.

 

We also compiled resources to aid users in effectively managing any customer or QuickBooks Payments-related tasks. These guides cover topics such as chargeback processing, credit memo creation, payment management, and so on.

 

If you require further assistance in recording the refund or have any other questions about QuickBooks, leave a comment below. I'll get back to help you. Enjoy the rest of the day. 

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