If a customer overpays or returns a product, you can issue either a credit or a refund. In either case, you must credit the customer with the correct amount; in the case of a credit, you can then apply that amount to another invoice. In the case of a return, that amount is deducted from the account you use to pay the refund.
Important
Before you can issue a refund to a customer, you must issue the same amount to the customer in credit.
I want to download this refund from my financial institution
- If you haven't already done so, issue the amount of the refund to the customer in credit.
- Download and accept the refund for this invoice into the checking (Chequing in Canada), credit card, or savings account you use for this business.
- If necessary, in the Category field, select the account that you use to track the customer's invoices payments and invoices. You may need to click the Transfer tab on the left to see the available accounts.
- Open the account that you use to track this customer's payments and invoices.
- Select the refund transaction, and then double-click the word --Form-- in the Category field.
- In the Outstanding Invoices area, select the invoice this refund applies to.
- Click Enter.
I want to enter this refund manually
- If you haven't already done so, issue the amount of the refund to the customer in credit.
- Open the account that you use to track this customer's payments and invoices.
- Click
(the Account Actions icon), and then choose New Refund. - In the Refund dialog, select the account from which you want to pay the refund, enter the customer name, project/job, and amount, and then click Enter.
- In the invoices/receivables register, select the payment, and then double-click the word --Form-- in the Category field.The Customer Payment form lists the invoice and the refund.
- Click the Pay column next to the refund, and then click Enter.
Note for our Canadian Customers
The following terms will be different in the Canadian releases of Quicken.
Canada: "Cheque" / United States: "Check"
Canada: "Colour" / United States: "Color"
Canada: "Centre" / United States: "Center"
Canada: "Realise" / United States: "Realize"
Canada: "Behaviour" / United States: "Behavior"
Canada: "Analyse" / United States: "Analyze"
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