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L
lynnphtr1
October 6, 2020
Question

Issue Refund to customer but payment later

  • October 6, 2020
  • 1 reply
  • 0 views

Good afternoon,

 

I have a question regarding refund to customer.

In Fiscal year 01, We issued a refund of $240 to customer (for the sales rendered in FY 01).  But we won't pay them until FY 02. How can we issue the refund to decrease sales in FY 01 and put the $240 to Accounts payable? Refund receipts function seems to record the refund and payment right on the date on refund receipts. Please advise. 

1 reply

J
JamesM
October 6, 2020

Hi lynnphtr,

 

Making sure you're recording the refund the right way is a good exercise for preventing errors in your books. I'd be happy to steer you in the right direction so you can focus on doing the things you enjoy. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the transactions. Doing this will help prevent any future discrepancies in your books. If you're not in contact with one, I encourage you to search for one on our website using this link here. Here's a helpful resource I encourage you to check out: Record a customer refund in QuickBooks Online.

 

If you still have questions after checking out the resources above, feel free to reach back to me in the comments below. For additional support, please reach out to our support team using the info below:

 

Schedule a Callback or Chat: click (?)Help in the upper right > type and enter "Contact support" into the QB Assistant > click Contact Us > explain your situation > click Let's Talk > choose Get a callback or Start a Chat. Support is available from Monday to Friday between 9 a.m. and 8 p.m. ET.

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Enjoy the rest of your week! I'll be here if you need anything.

 

 

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