This are the best instructions of a refund on the internet. When I would follow other sets of instructions, including QBO's own instructions, it was like I was still out of balance. Your instructions are also the only place I've seen to comment on getting the refund to change from "partial" to "closed". This is what the other directions we're missing. I have your video saved and it's my go to place when I have to process a refund. Thank you!!
AHHHHHHHHH! I Can't believe my luck!!!! I did not go thru any pain, because I had the issue, I open youtube AND FOUND YOU! JUST PERFECT TIMING AND PERFECT SCENARIO!!!! Señorita Intelligent, thank you with all my heart for creating these tutorials! May God bless you always!
My issue was the Stripes (cc company), received a payment from one customer, reimbursed money to another customer, charged cc fees for for receiving the payment with a credit card, and took money from my bank account, and guess what? I did everything perfect: Journal entry: receive payments, issue reimbursement, collect cc fees and took money from bank, THEN RECEIVED PAYMENT! And the customer shows all his invoices paid and I reconciled my bank to the cent! I love it! Thanks to you!
OMG Thank You sooo much for this. I work in Accounts Payable and was having the hardest time trying to reflect this refund in QB. Thanks again! -Aleksi
This is great and very helpful. Thank you! How does is work with adding deposit. Example: We receive payment through Stripe but at the same time we are refunding customer overpayment back to his credit card. Both transactions are posted together as one payout.
Thank you for this straightforward and clear explanation. For some reason, when searching about for a solution to this scenario, nearly every source I happened upon advocates first issuing a credit memo prior to writing a check for the refund. This seems a bit convoluted to me. What may be the rationale for taking such an approach? Again, your workflow seems more logical to me. Your feedback is much appreciated.
Thank you for your comment. A credit is already on the account due to the overpayment. Issuing a credit memo would double the credit, and therefore you'd still be left with a credit for the overpayment on the account after the cheque was issued to the customer. A scenario where you would issue a credit memo and then a cheque to the customer is if the original invoice price was more than what was quoted to the customer. You'd issue a credit memo for the difference. If they were no longer going to do busy with your company, a cheque would be issued to them for the credit memo in the same way I explained in my video. I hope that makes sense.
Thank you for this excellent video. Not even QB support has been able to explain this. Could I ask, what would be the procedure for refunding a credit card?
thank you for this! the only issue I'm running into is it keeps asking to add the tax amount, however when I put 13% for my province it only gives me the amount before taxes to credit the customer, leaving an additional credit on their account Do I put it is 'out of scope' for taxes?
This is great! Thank you. Just one little question: What happens once the refund is pulled into my banking queue to clear transactions? ie the refund clears the bank. Will it automatically 'match' to this already cleared transaction, assuming its an expense I've created? Any comments are appreciated. Thank you!
That didn't work for me. When the amount set to 0 after selecting both the Check that I wrote and the credit memo it gave me an error of needing to set a transaction amount.
Late reply but it was AR because a customer made an overpayment for an invoice in the example. Therefore, an overpayment will need either a credit note raising, or to account for the physical movement of cash from the bank account to refund the customer.
Thank you, have been watching a million videos and none told me what I needed to do until this one!
This are the best instructions of a refund on the internet. When I would follow other sets of instructions, including QBO's own instructions, it was like I was still out of balance. Your instructions are also the only place I've seen to comment on getting the refund to change from "partial" to "closed". This is what the other directions we're missing. I have your video saved and it's my go to place when I have to process a refund. Thank you!!
AHHHHHHHHH! I Can't believe my luck!!!! I did not go thru any pain, because I had the issue, I open youtube AND FOUND YOU! JUST PERFECT TIMING AND PERFECT SCENARIO!!!! Señorita Intelligent, thank you with all my heart for creating these tutorials! May God bless you always!
My issue was the Stripes (cc company), received a payment from one customer, reimbursed money to another customer, charged cc fees for for receiving the payment with a credit card, and took money from my bank account, and guess what? I did everything perfect: Journal entry: receive payments, issue reimbursement, collect cc fees and took money from bank, THEN RECEIVED PAYMENT! And the customer shows all his invoices paid and I reconciled my bank to the cent! I love it! Thanks to you!
Thank you so much for your help. It's ridiculous how QB doesn't have this feature. Thank God here has a creative and smart person, you.
OMG Thank You sooo much for this. I work in Accounts Payable and was having the hardest time trying to reflect this refund in QB. Thanks again!
-Aleksi
Thanks, you're a lifesaver. QBO's help area was...less that clear about how to get this working.
Thanks so much!!! I've been looking for the method of how to refund my customer, that is exactly what I am looking for, very much appreciated :)
This is great and very helpful. Thank you! How does is work with adding deposit. Example: We receive payment through Stripe but at the same time we are refunding customer overpayment back to his credit card. Both transactions are posted together as one payout.
Thank you so much. I dont know why but it took me so long to find this explanation
Thank you so much. this is very helpful and not self evidence (as usual for QB)
This is very helpful, i missed out the addition step to receive payment and apply unapplied payment
Thank you so much, you just saved me a big headache
Excellent video
I will be sharing this info with my clients.
Thank you for that very helpful and clear explanation. Much appreciated.
Thank you for this straightforward and clear explanation. For some reason, when searching about for a solution to this scenario, nearly every source I happened upon advocates first issuing a credit memo prior to writing a check for the refund. This seems a bit convoluted to me. What may be the rationale for taking such an approach? Again, your workflow seems more logical to me. Your feedback is much appreciated.
Thank you for your comment.
A credit is already on the account due to the overpayment. Issuing a credit memo would double the credit, and therefore you'd still be left with a credit for the overpayment on the account after the cheque was issued to the customer.
A scenario where you would issue a credit memo and then a cheque to the customer is if the original invoice price was more than what was quoted to the customer. You'd issue a credit memo for the difference. If they were no longer going to do busy with your company, a cheque would be issued to them for the credit memo in the same way I explained in my video.
I hope that makes sense.
Thank you for this!! It works perfectly.
Thank you for this excellent video. Not even QB support has been able to explain this. Could I ask, what would be the procedure for refunding a credit card?
thank you for this! the only issue I'm running into is it keeps asking to add the tax amount, however when I put 13% for my province it only gives me the amount before taxes to credit the customer, leaving an additional credit on their account Do I put it is 'out of scope' for taxes?
Awesome!!! Such a quick and easy fix!! Thank you!
After that I make an actual check to the customer to clear the refund/expense, right?
Thank you for making this video! Very helpful!
This is great! Thank you. Just one little question: What happens once the refund is pulled into my banking queue to clear transactions? ie the refund clears the bank. Will it automatically 'match' to this already cleared transaction, assuming its an expense I've created? Any comments are appreciated. Thank you!
THANK YOU!! I've been struggling with this
Great video. Thank you!
Thank you for the excellent instruction.
Thank you for posting this, it was really helpful!
Thank you! I could not figure out how to do this... So helpful!!! :-)
Thank you so much for this!
Thank you so much for tutorial.
This was spot on. Thank you for this video.
Amazing Thank you very much .
That didn't work for me. When the amount set to 0 after selecting both the Check that I wrote and the credit memo it gave me an error of needing to set a transaction amount.
I am also having this issue. :(
@@sarahthomas4579 i wonder what it is.
why Accounts Receivable? if its an over payment?
Late reply but it was AR because a customer made an overpayment for an invoice in the example. Therefore, an overpayment will need either a credit note raising, or to account for the physical movement of cash from the bank account to refund the customer.
Super helpful, thanks so much!
Thanks this fixed my issue - very helpful!
I'm glad it helped you.
Loved your vedio
Thank you so much, that was VERY helpful and solved my problem!
You're welcome and I'm glad it solved your problem.
Thank u so much!
Thank you!
Dumb customers... we should just go for lunch!
Thanks!
You're welcome. I'm glad I could help you.
Great, Thanks
You’re welcome. I’m glad that solved your problem.
Thank you!