Example:
We received a credit card payment from customer A ($334.00) and sent a credit card refund ($1,000.00) to customer B on the same day. This resulted in a net negative deposit ($666.00) from our credit card merchant provider. How to match a refund receipt and a regular receipt to properly match the deposit in our bank account from the bank feed.
![sales receipt](https://newqbo.com/wp-content/uploads/2016/08/sales-receipt-300x169.png)
![refund receipt](https://newqbo.com/wp-content/uploads/2016/08/refund-receipt-300x169.png)
QuickBooks Online won’t allow creating a negative bank deposit. If the total deposit is negative, you will need to create a Journal Entry to move the funds from Undeposited Funds to the bank account.
![deposit negative](https://newqbo.com/wp-content/uploads/2016/08/deposit-negative-300x169.png)
Here’s how to create that Journal Entry and move the funds from the Undeposited Funds account to the Bank account.
![journal entry](https://newqbo.com/wp-content/uploads/2016/08/journal-entry-300x169.png)
- Click the Create (+) at the top of your Home screen.
- Choose Journal Entry from the drop-down (if you don’t see it, try clicking Show more).
- Set the Date of the transaction (same as the bank posted transaction date).
- On the first distribution line of the Journal Entry:
- In the Account column, choose Undeposited Funds.
- In the Debit column, enter the amount of the deposit.
- On the second distribution line of the Journal Entry:
- In the Account column, choose the appropriate bank account.
- Set the Credit column to the amount of the deposit.
- Click Save and close. This will show a deduction from the bank account in the Bank Register in QBO.
Next, you will want to group the Journal Entry with the payments to create a $0 deposit and remove the payments from Undeposited Funds.
![deposit zero with je](https://newqbo.com/wp-content/uploads/2016/08/deposit-zero-with-je-300x169.png)
- Click the Create (+) at the top of your Home screen.
- Choose Bank Deposit from the drop-down.
- Select the payments (negative and positive) and the Journal
- The entry you just created (the total should be zero).
- Click Save and close.
Next, go back to the banking center (bank feed). You may see MATCH now for that transaction. If not, click that transaction row for a refund receipt. Locate and match transactions from the list there. Save.
![radio button switch from add to find match](https://newqbo.com/wp-content/uploads/2016/08/radio-button-switch-from-add-to-find-match-300x75.png)
![match transaction](https://newqbo.com/wp-content/uploads/2016/08/match-transaction-300x169.png)
Video Tutorial
QuickBooks Online QBO – how to match negative credit card daily sales receipts | refund deposit