I seem to be having a problem when I refund money to a customers credit card. It shows up in Undeposited funds. I noticed that this was the problem as well in QB 2004 has this been fixed or do I still have to create journal entried to move it to my refund account?
QB 2006 Pro and applying Credit Card Refunds
Apr 24, 2006
2 Replies
What problem? Until it comes out of your bank account just keep it there.
That's where it's supposed to go. Then... at the end of the day when you group together ALL Visa/Master Card transactions to deposit them the refund (negative value) will be included in the deposit making the deposited total correct.
Well, that's the way it works for us.
Only problem we used to have in QB 6.0 was we couldn't deposit a negative amount into the bank so had to wait until there were enough let's say... Visa sales to offset the negative Visa refund.
Which _could_ be a real pain at times.
HTH Pete
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