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Here’s a quick to understand Enter a refund in QuickBooks swiftly

Most of the time, customers didnu2019t get satisfied with the companyu2019s product and services and want their money back. With returning the customeru2019s money, you need to enter a refund in QuickBooks to keep their record books up-to-date. If youu2019re returning the customeru2019s money and face an issue to enter the refund in QuickBooks, then get in touch with the QuickBooks professionals by dialing up our customer support number 844-932-1139.

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Here’s a quick to understand Enter a refund in QuickBooks swiftly

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  1. Want to Enter a Refund in QuickBooks? Here’s How to do it

  2. In businesses, there come situations where business owners or employers need to refund the money to customers. Like other records, users need to enter refund in QuickBooks to balance accounts. There can be different scenarios to refund the money, for instance, you’re reimbursing for the goods and services that didn’t fulfill the customer’s need, or the buyer has overpaid for the product. If you have returned the customer’s money and need to enter a refund in QuickBooks Online, then this blog is for you. Note: To prevent double refund, ensure you’ve not entered a credit note yet.

  3. Steps to create refund receipt • In order to enter a refund and return the money, you need to create a refund receipt by following the steps given below: • In QuickBooks Online, click +New. • Then select Refund receipt or Give refund. • From the Customer drop-down menu, choose the customer you need to refund. • After that, in the Refund Form drop-down list, select the same bank to which you deposited the invoice payment. • Attach all the products in the Product or Services column for which you’re refunding. • Enter the quantity, amount, rate, and other details and click Save and Close to proceed.

  4. Note: A refund can be paid to the customer by check or expense only when they made a prepayment for the order they canceled, redeem their open credits, or compensate for an accidental overpayment. • Here are the Steps to Enter a refund in QuickBooks • Follow the steps given below to enter a refund in QuickBooks: • Step 1. Register the refund • Open QuickBooks Online and select +New. • Click Expense, Add expense or Check.

  5. From the Payee drop-down list, choose the customer you’re refunding. • From the Payment account drop-down menu, choose the bank account where you’ve deposited the overpayment. • After that, select Accounts Receivable in the Category column. • Enter the refund amount. • Fill in the other necessary details and click Save and Close. • Step 2. Link the refund • On the QuickBooks Online homepage, select +New. • Choose Receive payment or Receive invoice payment.

  6. Now, select the same customer you’ve registered for a refund. • Provide the required details. • From the Outstanding Transaction section, mark the checkbox for Expense or Check you’ve created while recording the refund. • Ensure the amount is the same as the open balance. • At last, click Save & Close. • Conlcusion • That’s all you need to know to enter a refund in QuickBooks. If you have any query related to the same, we suggest you contact the QuickBooks experts by calling us on our helpline number 844-932-1139.

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