Overview

This article explains how to process a negative payment in QuickBooks when using Summary Sync. 

A negative payment comes from these entries:

• Refunds
• Cash adjustment on a Reconciliation
  
  

This process will work for QuickBooks Desktop and QuickBooks Online.

Since Summary Sync doesn't create individual customers or transactions in QuickBooks, any refund check will need to be handwritten.

Example

• A CoreBridge customer has been given a refund. 
  
  
• When a refund appears on the Journal entry in QuickBooks it is posted as a credit to Undeposited Funds. 
  
• QuickBooks does not allow negative deposits.

Method 1

• Edit the journal entry in QuickBooks where the negative payment posted.
• Change the GL account from  Undeposited Funds to the account you need to use such as a Bank Account or a Petty Cash account.
  
  
• Before
  
• After

Method 2

1. Create a journal entry

   • Debit: Undeposited funds
   • Credit: The bank account the refund was issued on. This could also be your Petty Cash account.
     
     How to create a journal entry:
   • QuickBooks Desktop: Company > Make General Journal Entries
   • QuickBooks  Online: Plus Symbol > Journal Entry
     
     

2. Save the journal entry

   
   

3. Make a $0.00 deposit by selecting both the positive and negative amounts.

   Line 1 is the $<100.00> from CoreBridge.
   Line 2 is the debit from the journal entry