In this article, we will explain about void or refund customer payments in QuickBooks Online. Sometimes you have mistakenly accepted payment from your client due to some valid reasons and now your customer asks for a refund then you have to pay their money back. Payments that are processed through QB Online are easily refunded. If you are working with QuickBooks Payments then it is easy for you to take and process customer credit card payments in QBO. In many cases, you may need to void or refund your customer payments.
Here we will show you a procedure through which you can easily void or refund customer payments in QBO without interrupting your accounting data and also the data stays accurate. Take a look at the partial refunds described below.
- When you Start a Void or Refund Customer Payments in QuickBooks Online
- How to Refund a Customer Payment in QuickBooks Online
- Wrapping up
When you Start a Void or Refund Customer Payments in QuickBooks Online
From here, you learn the nature of the transaction, on the basis of that you will know which transaction is treated as void or which one needs to be refunded.
- Payment transaction batch starts at 3:00 PM PT on every business day, if the payment transaction is not batched then you are required to void the transaction.
Note: You must know when QuickBooks deposits customer payments into your bank account. If you are capable of void transactions prior to the payment processing then a fee is voided by you.
- In case the payment transaction is batched already then you are required to give a refund to your customer. It is up to you to either refund the whole product or you can refund for specific goods or services.
Note: One key point you always have to keep in mind, there is an additional charge or fee for refunding payment transactions. You must be aware of the refunding fee pattern so that you will know how much you need to pay. In addition, refunding customer payment will take a few days(because the vendor has to collect the proper credit card information so that the customer gets back their money successfully).
If you are signed up for immediate funding and then apply it to the transaction, the payment is automatically considered as batched.
How to Void a Sales Receipt Paid by Credit Card or ACH [Steps]
If you are not aware of how to void a sales receipt paid by credit or ach payment, you can learn from here.
- To begin, visit the Sales Menu and then choose the All Sales tab
- Choose the sales receipt for which you want to void the payment
- Choose the Transaction processed link from the sales receipt detail screen
- Pick the Refund option by scrolling up or down
- Pick the Yes option and refund my customer
- In the end, choose the OK option on the Transaction successfully refunded screen.
If you are able to void the transaction prior to the payment batching, you will now check out the status Voided and you can print a voided sales receipt by choosing the Print option.
Suggested Read: Void or refund customer payments in QuickBooks Desktop
How to Void an Invoice Paid by Credit Card or ACH[Steps]
To void an invoice paid by credit card or ACH, you have to go through the steps listed down:
- To start, reach to the Sales menu and then choose the Invoices tab
- Choose the invoice for which you want the payment
- Choose the payment made a link from the invoice detail screen
- Now pick the date link
- Choose the Transaction Processed link
- Now choose the Refund option
- Pick the Yes option, refund my customer
- In the end, hit the OK option on the Transaction successfully refunded screen
If you are able to void the transaction prior to the payment batching then you will see the status Voided and you can easily print a voided sales receipt by choosing Print.
Do you know how you can void customer payments in the QuickBooks GoPayment mobile application? If you do not, learn from here.
How to Void a payment using in the QuickBooks Online app using GoPayment[Steps]
If you are required to void a payment then try to do so before 3 pm PST on the same day the payment is accepted. This is typically the cut off for when fewer credit card payments are processed.
- In the starting step, click on the Sales Receipts or Invoice Payments from the Menu
- Now choose the sales receipt or invoice payment you want to void.
- Choose the More Options ⋮.
- In the end, click on the Select option
In case, you are unable to void the payment or if your customer overpays then you must visit the Merchant Service Center and issue a refund for your customer.
How to Refund a Customer Payment in QuickBooks Online
Are you ready to learn a few ways to give refunds in QBO?. Follow the steps according to how you can process the transaction.
Requirements of Refunding Credit Card payments
Credit cards customer payments refunds have a few requirements that are listed down:
- Credit Card refunds only go back to the original card that is used at the time of purchase. You might require to contact your customer to collect this information
- A refund amount is up to the amount of original sale from you, no more refund is provided to the customer
- Within 180 days of sale, you can only issue credit card refunds
How to Refund a Credit Card or an ACH Payment for a Sales Receipt
- First of all, click on the + New option
- Now choose the Refund receipt.
- From the Customer ▼ dropdown menu, click on the customer you are willing to refund
- Now fill out all the fields with the same information carried by your original sale. In the payment method, to credit back their credit card you have to select QuickBooks Credit – Credit Card. If you want to credit back their bank account, In Payment Method, then select the QuickBooks Credit – Bank.
- You have to select the payment method and the account from which you are willing to refund the customer inside the Refund From option
- In the end, click on the Save and close option to keep all the changes you have made
Note: You are now able to send or print the refund receipt by choosing the Print option.
How to Refund a Credit Card Payment or ACH payment for a Paid Invoice
Here’s how to refund an invoice for your customer paid already.
- In the beginning, click on the + New option
- Choose the Refund Receipt
- From the Customer ▼ dropdown menu, you have to choose the customer you want to refund.
- Now fill up the fields by using the information-carrying your original sale
- Now select the payment method as well as the account through which you are willing to refund the customer.
Note: You are not eligible to refund an ACH payment to the customer’s bank account. You are eligible to do so, if you are choosing another refund method either cash, check or store credit.
- In the end, click on the Save and Close option
You’ll be able now to send or print the refund receipt.
How to Give a Partial Refund
- Firstly, click on the + New option
- From the Customer ▼ drop-down menu, choose the customer you want to refund
- Fill out the fields by using the Information carrying your original sale
Note: If you want to provide a partial refund, then only add the items or amount for which you want to refund
- In the end, click on the Save and Close option to finish it
Now you’ll be able to send or print the refund receipt.
We hope you appreciate our writing on void or refund customer payments in QuickBooks Online. We are trying to give you a clear picture of voiding sales receipts and invoices paid by credit card or ACH as well as refunding credit payments for a sale receipt and paid invoices through this blog. If any confusion arises in it, our expert team will always be ready to lead you. Meanwhile, you can get connected with our Intuit Certified ProAdvisors through the 24/7 customer care toll-free number +1-855-441-4417 if any QuickBooks doubts knock on your door.