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how do I show refunds as a negative income?

Ken Roemhildt

:) xxx

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Sherlock

To show a refund as negative income, you would use an income category for the withdrawal. I suggest using the same income category you used when you received the income for the refund transaction.

NotACPA

Refund of WHAT? An income item? Or a refund for a purchase returned.

BUT, in general, use the same category that was used for the initial transaction ... thus "reversing" it.

GulfLifts

When I issue a refund, I have to issue a credit first. I categorized my item sold as Sales, Business. When my client wanted to return it, I had to issue him a credit, according to Quicken, then issue a refund. His balance was 0. But I don't see that credit or refund on my Sales account as a negative number.

Chris_QPW

GulfLifts said:

But I don't see that credit or refund on my Sales account as a negative number.

Why not, that is what it is?

GulfLifts

Looking at profit and loss statement, the credit does NOT show up.
How can I fix that?