A return/refund transaction is not usually charged as a
separate item against your bank account. Instead, it is included with the
business day's credit card payment transactions that are deposited into
your bank account by the merchant account processor. By following these
instructions, the return/refund transaction is recorded in your QuickBooks bank
account as a separate transaction. Be sure to keep this in mind when you
reconcile your bank statement.
To do this task
Open the Create Credit Memos/Refunds window.
Go to the Customers menu and click Create Credit Memos/Refunds.
Click Customer:Job drop-down list and choose the customer or job for whom
you are entering the return.
In the Item column, enter the name of the item being returned.
If you charged sales tax when you sold the item, be sure the item is marked
Save the transaction.
In the Available Credit window, click Give a refund.
In the Issue this refund via field, select the type of credit card you are using for the refund.
Make sure the Process credit card refund when saving checkbox is not selected (unless you are a Merchant Service subscriber).
Issue a refund if you are a Merchant Service subscriber
Find outstanding customer