This article explains how to process a customer refund in QuickBooks when using Lump Sync. This will work for QuickBooks Desktop and QuickBooks Online.
Since Lump Sync doesn't create individual customers or transactions in QuickBooks, any refund check will need to be handwritten.
In the example, a CoreBridge customer has been given a $100.00 refund.
- When a CB refund appears on the Journal entry in QuickBooks it is posted as a credit to Undeposited Funds.
- You can't record a negative deposit in QuickBooks so you will need to create a manual journal entry to move the refund amount out of Undeposited Fund and out of your bank account.
- Debit: Undeposited funds
- Credit: The bank account the refund was issued on. This could also be your Petty Cash account.
- Then make a $0.00 deposit by selecting both the positive and negative amounts.