Last week in this 'very mini series' we looked at Voiding QuickBooks® Payments1 (aka: QB Payments) because no matter how great any payment system is there comes a time when circumstances dictate that you must either stop or reverse payments for one reason or another.
Refunding Payments
Using the QB Payments dashboard you have control to not not only void payments as we learned last time, but you can also refund payments as we will explore in the steps outlined below.
Refund a Credit or Debit Card Payment
Credit and Debit Card payments authorize different than ACH payments, which means instead of voiding a payment you will refund those payments.
Steps to Refund Credit or Debit Card Payments
- Company Gear Icon
- Account and Settings
- Payment
- Manage Account
Find the credit or debit card transaction
- Activity & Report
- Transactions
- Filter date range
- Select the transaction in question
- Small gear icon
- Choose Reverse
Reverse transaction(s) from the Activity & Reports tab of the QuickBooks Payments Dashboard.
Liz_Refund_QB-payments_Fig-01
Reverse payment
- Checkmark transaction ID
- Fields will be auto populated
- Verify name, transaction ID and amount
- Submit
Processing the QuickBooks Payments transaction reversal
Liz_Refund_QB-payments_Fig-02
Print or E-Mail Receipt
Now that the Credit or Debit Card refund has been issued you can either email or print the activity
- Select email
- Enter email address and note
- Send
Printing or E-mailing a copy of the Receipt associated with the refund of the QuickBooks Payment activity.
Liz_Refund_QB-payments_Fig-03
To verify the Credit or Debit Card payment has been reversed repeat the steps to view transaction status again.
- Activity & Report
- Transactions
- Select the transaction in question
- View status details
The QuickBooks Payments Dashboard makes it easy to verify that any Credit or Debit Card payment reversals have been processed.
Liz_Refund_QB-payments_Fig-04
Other QuickBooks Payments Features
I started out this mini-series telling you that if you’re not already using QuickBooks® Payments1 (aka: QB Payments) you should be, and that just one of the reasons was the visibility into customer payments QB Payments afforded, including the ability to void and reverse payments when needed. But, that's not the only set of reasons for using the convenience of Intuit QuickBooks Payments, here are a couple of more providing equal visibility.
Merchant Payment Statements
Merchant Payment Statements make is easier to see the months deposit activity. Merchant Payment Statements are available inside of QBO. Statements from the previous month will be available by the 5th of the current month. No statement will be available if no there is no merchant activity and statement history will be go back two years.
Smart Invoicing
The QuickBooks Payments dashboard makes it easy to see your accounts receivable status at a glance. To view the Smart Invoice Dashboard inside of QBO, use the Navigation Bar to open the Sales Center click on Invoices and you can view the Status of each invoice.
QuickBooks® Payments not only provides total visibility into your customers' payments, but it provides you with total control, greater convenience than other payment methods, and time savings you can't experience otherwise. If you would like more information about QB Payments then check out the QuickBooks® Payments website1.
Footnotes:
1 - the embedded URL provided is the official Intuit QuickBooks Payments (United States) website. Our international readers may wish to access Intuit available 'payments' offerings via the QuickBooks 'Global' website, once there you can select the 'country of your need' for more information and product offerings.