How does Connex for QuickBooks Desktop sync refunds?

Introduction

Connex can sync refunds as credit memos. Connex will create a credit card refund and deposit the amount into undeposited funds. You can configure Connex to create a refund by check and use an asset account.

How should I match sales to deposits?

There are two ways to match deposits:

  1. All sales and refunds appear in the undeposited funds account. You can select the sales and refunds that match the deposit. This setting is enabled by default. If you have a low order volume and a single payment processor, then this is the recommend way to match deposits.
  2. You can deposit sales and refunds into separate asset accounts. You can create a deposit manually, instead of selecting several sales. This setting is ideal, if you have multiple payment processors. If you had Stripe, PayPal, and Authorize.NET, we recommend using different deposit accounts. For more info, read this guide.

How do I configure refunds?

Here are the settings:

Name Function
Create Credit Memos in QuickBooks Creates a credit memo for refunds. This setting is enabled by default.
Create refund from credit card Open a credit memo and click use credit to give refund. This will refund the amount to the credit card and create a refund in the undeposited funds account. This setting is enabled be default. Here is an example refund.
Check bank account On the top right of the check, this setting controls the check bank account.
Create refund from check Creates a check for refunds in an asset account. This setting is used to deposit refunds into an asset account, instead of undeposited funds.
Credit memo A/R account The A/R account used for credit memos. 

 

 

 

 

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