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S
sgray98660-gmail
February 15, 2024
Question

Our card was credited due to an over charge by the vendor. When they came trough to QB in the bank fee they showed as charges, not credits. Support was unable to help.

  • February 15, 2024
  • 1 reply
  • 0 views
The CC statement from the bank clearly shows the transactions as credits. I'm unclear how this can happen. Anyone else experience this? I know I can correct the balance manually, but this seems like a serious bug in QB.

1 reply

J
JuliaMikkaelaQ
February 15, 2024

I understand that seeing transactions shown as charged instead of credits can be disconcerting and may leave you wondering what's happening behind the scenes, sgray98660. Let me share some information about this matter.

 

When you connect your credit card account to QuickBooks Online, the software downloads transactions from your credit card provider and categorizes them based on the information provided. However, since this is an overcharge from your vendor and the credit card is a liability account, it will show as charges or spent in the bank feeds. 

 

Moreover, since you want to record this as credit instead of a charge, you might consider excluding this transaction in the bank feeds and manually recording the transaction in the program. In addition to your ways to correct the balance, you may also refer to this article for more details: Enter vendor credits and refunds in QuickBooks Online.

 

You may also want to read this article to learn how to review downloaded bank and credit card transactions and put them in the correct accounts: Categorize and match online bank transactions in QuickBooks Online.

 

Drop a comment below if you're encountering challenges with managing credit card transactions in QuickBooks Online or have questions about the software's features. I'm just around to help. Take care always.

S
sgray98660-gmailAuthor
February 16, 2024

Thank you for the prompt reply. So, just to make sure I understand how QB online handles this... ANY transaction on our credit card will come through the bank feed as a charge, even if it was a refund from a vendor. Is that correct? 

J
Jelayca V
February 16, 2024

Thank you for reaching out to us, sgray98660. I'll be happy to provide you with the information you're seeking.

 

Once you have connected your credit card account to QuickBooks Online (QBO), the software automatically downloads transactions from your credit card provider and categorizes them based on the information provided. 

 

However, it's important to note that not all credit card transactions that are refunded by a vendor will show as a charge in the bank feed. These transactions will show as credit since they are recorded as a positive amount, meaning that the amount will be added to your account balance.

 

In your specific case, since the transaction shows as a charge, you might consider excluding this transaction from the bank feeds and manually recording it in the program to record it as credit instead of a charge. This will help ensure that the transaction is recorded accurately and that your account balance remains correct.

 

In addition to the steps above, you may also refer to this article for more detailed information on how to enter vendor credits and refunds in QBO, as this guide provides comprehensive instructions on how to accurately record these types of transactions, ensuring that your financial records are up-to-date and accurate:  Enter vendor credits and refunds in QuickBooks Online.

 

If you have any further questions about managing credit card transactions in QBO, please do not hesitate to reach out to us anytime. The Community is always available to help you. 

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