QB Issue Resolution:

You should create a check or an expense transaction to offset customer’s open credit. To do so, please follow these steps:

  1. Click on the Plus icon (+).
  2. Under Vendors, choose Check or Expense.
  3. In the Account column, choose Accounts Receivable.
  4. Enter the credit in the Amount column.
  5. In the Customer column, choose the customer.
  6. Select Save and close.1.PNG  

    2.PNG  

The, let’s link the check or expense with the credit memo:

  1. Click on the Plus (+) icon.
  2. Under Customers, choose Receive Payment.
  3. Fill out the following fields:
    • Customer
    • Date
    • Payment Method
    • Reference No.
    • Deposit To
    • Memo (Optional)
  4. Under Outstanding Transactions, select the Check or Expense that you created.
  5. Under Credits, select the unapplied payment.
  6. Make sure Amount Received is zero.
  7. Click on Save and close.3.PNG  

    4.PNG  

For further guidance, you can also check this article: Record a customer refund.

 

Resolution for Issue 'Online equivalent of credit memo and credit card refund' available: Yes (Solved).
Source: Intuit Community forum.

Online equivalent of credit memo and credit card refund: 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.

Support for Credit Card Refund
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Error Recovery for Credit Card Refund [Canada]
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