Quicken & Other Budget/Accounting Software/Refund

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Question
Hi,

I have recorded an income from Customer A amount $1750 for an event registration.

We have refund back Customer A of $200 due to event fees reduced. Without issuing any credit note or credit memo.

What is the refund entries details?

Answer
Hi FA

If you are writing a check, then use the
event registration income account.

If the refund is via ACH  then
enter a journal enter
Credit  Checking account
Debit  Registration income


Linda Saltz, CPA
Advanced Certified QuickBooks Advisor
https://www.qbalance.com
We sell and support QuickBooks Enterprise  

Quicken & Other Budget/Accounting Software

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Linda Saltz, CPA, QBalance.com

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QuickBooks best practices, troubleshooting, accounting, tax We have over 70 pages of website content about QuickBooks tips, running a business, tax and business startup at http://www.qbalance.com

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Accountant and CPA over 20 years. Specializing in accounting software for over 12 years, Certified QuickBooks Pro Advisor, QuickBooks seminar instructor since 1997.
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