How To Issue A Refund For Overpayment In Quickbooks?

How To Issue A Refund For Overpayment In Quickbooks

You have the option of contacting your customer and ask them to deduct the extra paid amount on the next payment, but if the customer has made a one-time transaction, you can continue with refunding the additional paid amount. Scroll down this page to know how to issue a refund for overpayment in Quickbooks.

Method 1:

  • Step 1: Open the Quickbooks and navigate to the Customers tab.
  • Step 2: Select the customer/client to whom you have made an extra payment and click Extra payment.
  • Step 3: Choose your preferred payment method on the receive payment page.
  • Step 4: If you have selected Check as the payment method, enter the check number in the reference number box.
  • Step 5: Enter the total amount you have received. The original amount and amount to credit will be displayed.
  • Step 6: Click on the Save and Close tab from the drop-down menu icon at the bottom.
  • Step 7: Go back to the Customers page and select your customer.
  • Step 8: You can check the status of the payment on the particular customer’s page.

Method 2:

  • Step 1: Click the “+” icon and select Check on the Suppliers tab.
  • Step 2: In the Choose a payee drop-down menu, select the customer you want to refund.
  • Step 3: Select the bank account in which the initial deposit was made.
  • Step 4: In the Accounts receivable box, enter the overpaid amount and then click Save and close.
  • Step 5: Click the Create “+” icon again and select Receive Payments.
  • Step 6: Select the customer you have processed refund. Then fill in the required fields.
  • Step 7: In the transaction list, mark the checkbox for the payment made and re-check the amount. Then, click Save and close to process your refund. Finally, know how to issue a refund for overpayment in Quickbooks.

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