Comprehensive Fix for Accounting/Quickbooks - develop Roadmap
(page 5 )
Does anyone else get frustrated trying to issue a refund and then figure out how to handle it in QuickBooks Online?
I've seen several questions about this over the years, but I've never found a clear solution with step-by-step instructions. After a lot of trial and error, I've come up with a process that seems to work well as long as all of the steps are followed.
When a guest needs a refund:
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Turn off Sync on the QuickBooks tab of the booking in OwnerRez. (This prevents OwnerRez from changing the original invoice amount in QuickBooks Online.)
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Adjust the charges in OwnerRez and process the refund.
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In QuickBooks Online, create a Refund Receipt using the Undeposited Funds account. Enter the line items being refunded, and be sure to include any sales tax being refunded as well.
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When the transaction appears in your bank feed, create a Bank Deposit in QuickBooks Online and select the refund receipt along with any other payments included in that deposit.
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Match the bank transaction to the bank deposit.
I use this process primarily for partial refunds, since I typically don't refund credit card processing fees on full cancellations. However, I don't see any reason it wouldn't work for full refunds as well.
If there's a better way to handle this, I'd love to hear it. This issue has frustrated me for years, so hopefully this is helpful to others.
Yes and can they set it to back date these fixes so if it's not reconciled we can cut some of our adjustment time down