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IAdventure
January 3, 2025
Question

Stripe refund combined with customer payout

  • January 3, 2025
  • 1 reply
  • 0 views

I refunded two customers on Stripe and when this has gone through as a transaction on my bank account, it has combined with 3 customer incoming payments:

£40 refund Customer A

£40 refund Customer B

£20 payment Customer C

£20 payment Customer D

£20 payment Customer E

So -£80 for refunds, +£60 payout, -£1.50 stripe fees. So one transaction of -£21.50 is showing on my bank.

I have processed the refunds on Quickbooks (credit note, expense, receive payment) but do not know how to apply the -£21.50 so that it matches the 3 open invoices and the 2 refund payments.

 

Your help is much appreciated. - I'm hoping that there is a simple answer.

Thanks

 

 

 

1 reply

C
CharleneMaeF
January 3, 2025

Hi, IAdventure.

 

I'm here to ensure this gets sorted out. However, I may need additional details regarding the -£21.50 transaction.

 

I noticed you mentioned a transaction of -£21.50 appearing on your bank statement, which includes the combined effect of two customer refunds, three payments, and Stripe fees. To better assist you and ensure accuracy in your QuickBooks records, could you provide additional details about this specific transaction? Understanding more about the breakdown of the -£21.50 amount will help us address how it should be applied to the open invoices and refund payments correctly.

 

Please don't hesitate to get back on this thread. I'm here to help you out.

I
IAdventureAuthor
January 3, 2025

Hi Charlene,

 

The amount has come through from stripe as one payment to them of £21.50. This is made up of £80 of refunds to customers (2x£40), £60 of income from sales (3x£20), and £1.50 stripe fee.

 

Normally it would just be the sales in on transaction so I could apply it to the 3 invoices, but it has used this sales amount to process the refund to different customers. 

 

£60sales - £80refunds - £1.50 stripe fees = £21.50 going out of my bank account. 

R
Rasa-LilaM
January 3, 2025

Thank you for adding more context to your concern, IAdventure. I'm committed to ensuring you receive the best guidance possible for handling refunds and payments, so they match your invoices and keep your sales records accurate.

 

Before we proceed, I want to provide some insight into handling credit notes and refunds for sales entries. In QuickBooks Online (QBO), you can use a credit note for these specific cases:

  • Use a credit note to reduce a customer's balance immediately.
  • Customers can use all or part of their credit notes to pay an invoice.
  • Apply a credit note when recording a customer's invoice payment.
  • Credit notes affect sales reports, even if not applied to invoices.

 

When processing a refund, utilise a cheque or expense to record the refund reduces your bank's balance and offsets the customer's open credit, overpayment, or prepayment. Refer to this article for more insights into the process: Record a customer refund in QuickBooks Online.

 

Since the amount for your bank transaction doesn't match your invoices, we recommend contacting our QuickBooks Online (QBO) Care Team for further assistance. They will assist you in effectively managing refunds and payments, ensuring they are correctly applied to the invoices.

 

To get the contact information:

 

  1. Navigate to the Help icon in the upper right to open the Search window.
  2. Next, hit the Contact Us button and provide a short description of your issue in the What can we help you with? section.
  3. Press the Continue button and select Callback to speak with an agent or Chat for real-time assistance.

You can go over each link below for guidance on how to classify your entries to the correct category and balance your bank and credit card account:
 

Feel free to visit the Community again if you need further assistance completing a specific accounting task or managing your business entries. We'll get back to provide the help you need.  

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