How to Refund with QuickBooks

 Step 1

Find the tenancy where you wish to issue a refund to the tenant and then add a transaction via the tenant rent statement as shown on the image below; You must then enter the correct information regarding the refund as shown on the below diagram. If refunding rent the transaction type will vary between a "rent charge"and a "direct rent";

• Choose "Rent charge" if you are a Property Manager
• Choose "Direct rent" if you are a self managing landlord.

If you are refunding anything other than rent you may select the relevant transaction type. Note: For a refund you must enter the Amount net with a minus (-) sign ahead of the amount you are going to refund. Refer to the image below!

Step 2

Once you have added this transaction, you need to synchronise your account. To do so, go to Financials > Go To QuickBooks Online Screen > Synchronise

Step 3

Within QuickBooks, go to Banking Locate the spent item that is being refunded. Ensure you set transaction type to Expense and category to Debtors.

Step 4

Select +New > Receive Payment Input the customer name and allocate the expense to the credit note refund you created from Arthur.

Run a sync to complete the process. You can see the final statement below