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Handling negative deposits for credit cards (Merchant Service)

negative deposits

QuickBooks Merchant Service lets merchants accept payments via credit cards. Credit card receipts are deposited as a group, called a batch, into merchant's bank account. This batch typically is the sum of all credit card transactions for the day. Sometimes, credit card refunds for a day exceed the credit card receipts resulting in a net negative dollar amount, which is taken out of the merchant's bank account by the merchant account provider. Using the usual procedure for making credit card deposits, you can record this negative amount into your bank account.

Important: To make a deposit with negative credit card transactions, the batch must consist entirely of credit card transactions. If you have a combination of credit card deposits and cash or checks, make two separate deposits: one for credit card transactions, and the other for cash and checks.

See also

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