Series

We have several posts here at Begin Coding Now that are on QuickBooks Online that are grouped into Series. Click the previous link to see the list.

Do you sometimes have to give back cash to customers who just paid you for a service? This is recorded as a refund receipt. A refund receipt is recorded when you refund money from a sale receipt that you previously recorded, not from refunding money for an invoice. If you are refunding from an invoice, you issue a credit memo.

You must use the same items that were on the original sale receipt or the same income accounts that you recorded when you originally recorded receiving money from a customer.

In QuickBooks it is the same steps as making a sales receipt but it has the opposite effect.

In QuickBooks click + New, Refund receipt. Enter the data. In the description enter the sales receipt number. You could say “from sales receipt number x”, where x is the number. You could also place that text in the customer message. Be sure to choose the proper bank account in the Refund from field. Choose the correct Product/Service you are refunding. If you are handwriting the cheque now you can enter the cheque number, or you can check the Print later box and print it later.