QB Issue Resolution:

Yes, you can use the Credit card credit to record the cashback rewards and the refund. For proper posting of the $100 overpayment refund, I’d suggest you consult an accountant.

 

Once everything is recorded properly, follow the steps provided by my peer @MaryLandT about transferring funds between accounts.

 

Resolution for Issue 'My business checking and credit card account are both at the same bank. The credit card account had a negative balance of $150, among which $100 was from overpaid payment from the checking and $50 from cash back award from the credit card. My bank did one single transfer of $150 from the credit card account to the business checking account. So the banking feed for my quickbooks online account has a $150 deposit for checking and $150 credit card charge for the credit card. In this situation, what’s the proper way to record this transaction to reflect $100 credit card balance refund and the $50 cash back reward income? Thanks a lot for help.' available: Yes (Solved).
Source: Intuit Community forum.

My business checking and credit card account are both at the same bank. The credit card account had a negative balance of $150, among which $100 was from overpaid payment from the checking and $50 from cash back award from the credit card. My bank did one single transfer of $150 from the credit card account to the business checking account. So the banking feed for my quickbooks online account has a $150 deposit for checking and $150 credit card charge for the credit card. In this situation, what’s the proper way to record this transaction to reflect $100 credit card balance refund and the $50 cash back reward income? Thanks a lot for help.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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