Skip to main content
H
HarishSecPod
May 17, 2024
Question

Refund entry need to pass

  • May 17, 2024
  • 1 reply
  • 0 views

I need to refund entry in Quickbooks. as we have raised the invoice and customer paid after that customer wants discontinue so we refund the amount what they paid. can you help us to pass entry in the books.

1 reply

A
AbegailS_
May 17, 2024

Hi there, @HarishSecPod. 

 

I'd be happy to provide you with the steps to record the refund through a Refund Receipt, which will maintain proper accounting records.

 

The refund will be reflected as a reduction in the customer's outstanding balance, and the accounting entries will be properly documented.

 

Here's how:
 

  1. Select + New.
  2. Choose Refund receipt or Give refund.
  3. Click the Customer ▼ dropdown, then select the customer you want to refund.
  4. Tick the Refund From ▼ dropdown, then select the bank you deposited the payment for the invoice to
  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.
     

For more in-depth details on how to record a refund based on various scenarios, this will make sure your books are up-to-date, refer to this article: Record a customer refund in QuickBooks Online.

 

Also, I'll add this guide to help you when a customer overpays you in the future: Handle a customer credit or overpayment in QuickBooks Online.

 

 I'll be around if you need further assistance recording your transactions. I'm very eager to help. Take care always.

Terms & ConditionsAccessibility statement