Step #1 Create a Sales Return income account Things you will needĪ copy of your bank statement or a copy of the returned payment transaction and bank feeĪctivate the product/service expense side In this tutorial, I will show you how to record a returned sales receipt payment and the bank fee without using a journal entry. There are very few instances, you should ever use journal entries to record a transaction in QuickBooks Online. The problem with using journal entries is you bypass the sales form and expense form when you record the transaction this way and it makes it harder to see which customer’s profile was impacted by the returned payment.
I was cleaning up a client’s file the other day and realized that they were using journal entries to record returned sales receipt payments from customers. I am always amazed to learn how people track things in QuickBooks Online.
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