Let me share some information about how the Deposit feature works in QuickBooks Online (QBO), @CountryBears.
It's great to know you were able to resolve the credit memo issue for that customer. Going back to your first concern, the deposits recorded as customer refund instead of accounts receivable depend on how you record the transaction. To post the deposit to accounts receivable, we'll need to choose that account when making a deposit. Here's how:
- Click + New Plus icon. deposit
- Select Bank Deposit.
- From the Account dropdown, choose the account you want to put the money into.
- Choose the checkbox for each transaction you want to combine.
- Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
- Press Save and close or Save and new.
Here's an article you can refer to for more details about recording and making bank deposits in QuickBooks Online. If you need to process a customer refund, you can check out this article for more details: Record a customer refund in QuickBooks Online.
If in the future the customer gave you a deposit for an invoice but changed their mind and backed out of the transaction, we can reverse the deposit. We'll need to give the customer a refund and apply for credit. Here's an article you can refer to for more insights on how to refund a deposit and close an invoice.
Feel free to visit this link if you need help in balancing your accounts in QuickBooks: Reconcile an account in QuickBooks Online.
I'm just one click away if you need a hand with running your financial reports. You can leave a comment below and I'll get back to you. You have a good one.
