QuickBooks Desktop Refund Account Setup
QuickBooks Desktop Refund Account Setup

How To Set Up A Refund Account In QuickBooks ?

How can you Set up a Refund Account in QuickBooks?
Sometimes it happens in the business, the customers are not satisfied with the product and services and would want their money back. You can handle these types of scenarios by setting up the refund account in QuickBooks itself. Setting up of refund account in QuickBooks will help to make the process a lot easier, you can easily refund back your customers without much hassle.

For this purpose, you will have to create the credit memo and decide how actually you want to treat the credit i.e. you want it to make it an available credit to your customers, or you may want to refund it to your customers, or you may also want to apply it to an invoice.

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Steps For Setting Up Refund Account And Handling Credit In QuickBooks

First of all, for setting up a credit memo, you need to follow the below steps:

  • Step 1. First of all, you need to select Create credit memos/refunds from the customer’s menu.
  • Step 2. Now from the customers: Job drop-down, choose your customer.
  • Step 3.Now you need to enter the items you are giving credit for and click on save and close.

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Setup Customer Refund As Credit in QuickBooks Desktop

Steps to follow in case you want to retain the refund and make it available as credit to customers:

  • Step 1. First of all, you need to click on customers and then click on receive payments.
  • Step 2. Now from the Received form, drop-down, choose the customer name. And then click on the Discount and credits icon.
  • Step 3. Now from the credits tab, check on the credit that you wish to apply and click on Done.
  • Step 4. If you see a prompt to confirm the transfer, click on Yes accordingly. This step will lead to the automatic application of the amount to the invoice.
  • Step 5. In the last step, click on save and close.

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Give Refund Cash, Coupon, Voucher To Customer Besides Credit In QB

If you want to give a refund to your customer then you need to follow the below steps:

  • Step 1. Click on OK when you open the automatically filled check.
  • Step 2. Now you can link the check to the overpayment. After that, you need to go to the Customers menu >> select receive payments.
  • Step 3.In this step, from the received drop-down menu, select the customer and click on the Discounts and credits icon.
  • Step 4.Now in the available credits section, select the earlier created check and click on Done.
  • Step 5. If you want to promptly transfer the amount, click on OK
  • Step 6. The amount will automatically be applied to the invoice and you need to click on save and close.

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Add Refund Credit On Customer Invoices in QuickBooks

In case you want to apply the credit to one of the customers’ invoices, then you need to follow the below steps:

  • Step 1. First of all, ensure to select Customer: Job while creating the credit memo/ refund which will open the apply credit to invoice screen.
  • Step 2. In the next step, choose the credit you want to apply automatically and click on Done.

If you need any information on any point or are facing any kind of issue that you are unable to resolve, you can dial a QuickBooks Support Toll Free Number and our QB technical helpdesk will help you.

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