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jc2324
April 20, 2020
Question

How to refund an unscheduled recurring receipt to customer for ACH withdrawal

  • April 20, 2020
  • 1 reply
  • 0 views

I have authorization to withdraw the authorized amount of money via ACH transaction from bank accounts of owners in a condominium unit. I am doing the transaction with recurring sales receipts. Last week an owner authorized me to make an additional withdrawal. I did that using an unscheduled recurring sales receipt. Somehow I scheduled the transaction twice. I did not realize the mistake until the funds had settled. How do I refund one of the withdrawals to the customer's bank account?

 

The QB written instructions are to find the transaction in payments, click the gear icon and choose refund.  When I do that, I do not see a refund option.

1 reply

MJoy_D
MJoy_D
April 20, 2020

Hello, @jc2324.

 

You can record a customer’s overpayment using a cheque or expense. This will reduce your bank's balance and offsets the customer's overpayment. 

 

Record the refund for your customer and then link the refund to the customer's credit or overpayment.

 

To record the refund for your customer: 

  1. Click the + New button and select Expense or Cheque.
  2. Add the customer from the Payee ▼ drop-down.
  3. From the Payment account ▼ drop-down, select the bank account where you deposited the money.
  4. On the first line of the Category column, select an Accounts Receivable and add how much you want to refund in the Amount field.
  5. Add all the necessary information.
  6. Click the Save and close button once you’re done. 

Link the refund to the customer's overpayment:

  1. Go back to the + New button and select Receive payment or Receive invoice payment.
  2. Select the same customer you used for the cheque or expense.
  3. Add all the necessary information.
  4. Below the Outstanding Transaction section, select the checkbox for the Expense or Cheque you’ve created.
  5. Make sure the payment is equal to the open balance.
  6. Click Save and close.

Check this article for more information: Record a customer refund in QuickBooks Online.

 

Let me know if there's anything that I can help you with your account. I'm always here to assist. Have a wonderful day!

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