How to Record a credit card chargeback in Quickbooks?

How to Record a credit card chargeback in Quickbooks?

With just an additional update, you can avail the facility of QuickBooks Payment. Credit Card Chargeback in QuickBooks has made it very easy for the customers to handle and make transactions in QuickBooks. This actually makes it a choice for users in the market.
Go to Banking
Write check
Create a new expense account name called bad debts enter the same amount as charged to client create another item finance charge …Dispute charge aslso need sto be added which you have paid for the charge back
Create an Invoice.

What does Chargeback mean?

The Chargeback can be recorded in just two ways.

  • The transaction can be processed as refund.
  • You can also record the transaction as business expense. Below is the detail on how to do it.

A transaction via chargeback can be showed up in the statement of your bank in the form of separate item. It can be done in either ways.
How to record chargeback in the form of business expense?

  • Select Create (+) –> click on Check.
  • Now, click on account (checking) that is frequently used for transactions via credit card by your merchant account processor.
  • Now, click on the name of customer that you have used for the payment of original credit card.
  • Now, click on the checking number and delete it. Now, to indicate the check as chargeback, enter a note. Ex. CB
  • Now, enter amount of chargeback item.
  • Now, see the (checkbox) print later and clear it.
  • Now click on the account that the user charges for the transaction.
  • Save it and close it.

How Can You Contact Us?
If you still feel you are unable to record credit card chargeback in QuickBooks or some error occurs in your QuickBooks while performing the task. You can get in touch with us via various modes of connectivity and our ProAdvisor and Technical Support Team will enable you with all support. Get in touch with us via Live Chat Support from our Website or the Toll-Free Number smb_accountants.

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