QuickBooks is reliable software with many highly useful features and tool. It brings accuracy and automation in managing your small and mid-scale businesses. Sometimes, the customers or clients accidentally overpay for a product or service which they buy from you. It is a rare occurrence but it happens and what do you do in such a case?
You will most likely give them a refund but do you know how you can do that within QuickBooks?
Connect with the QuickBooks ProAdvisors of 247techsupportnumber to learn how you can issue a refund for overpayments in QuickBooks. Simply, pick your phone and dial the QuickBooks Technical Support Phone Number +1888-477-0210 to connect with the QuickBooks Experts.
How To Calculate Refund Amount For Overpayments In QuickBooks?
- Firstly, calculate the amount which is overpaid by the customer.
- You can calculate this by subtracting the price of the product/service from the amount that your customer paid to you.
- For example: If a product is priced at 500$ and the customer paid 600$ for it, the overpayment amount is 100$.
- It does not matter how much the overpayment amount is because you have to refund it anyway.
- Firstly, the customer feels that they are doing business with an honest organization. Secondly, it does not mess up your accounting books and you are tax ready at the right time.
Steps For Issuing A Refund For Overpayments In QuickBooks
- Open your QuickBooks and login into your account.
- Go to the Open Invoices report.
- Look for a credit which has a Payment type transaction.
- The customer payment tab will show up on your desktop screen as soon as you click on the Payment transaction option.
- Look for the “Refund the amount to the customer” option.
- Click on it.
- Now, you will get an option for refunding the overpayment amount to your customer.
- Check “Issue a refund” for that.
- Make sure that the overpayment amount that you are entering is correct.
- Congratulation, you have just created a Refund for overpayments in QuickBooks.
Get Tech Support For Refunds In QuickBooks
Did this step-by-step guide for issuing a refund for overpayments in QuickBooks work for you? If it did not, connect with the QuickBooks ProAdvisors of 247techsupportnumber right now. We are looking forward to assisting you with your QuickBooks queries and doubts. You can call us on our QuickBooks Support Phone Number +1888-477-0210 to receive a premium grade and uninterrupted Intuit QuickBooks Support service.
Get QuickBooks Training today to reap out maximum benefits from the QuickBooks software. Use the Live QuickBooks Chat Support service to get secret tricks and tips for QuickBooks.