How to Make a Negative Deposit In QuickBooks: UPDATED
Updated May 4th, 2023: You can now record a negative deposit transaction in QuickBooks Online.
You can’t. From an accounting standpoint, there is no such thing, as a deposit is money added to the checking account. However, refunds to customers, specifically credit card refunds that are batched with charges that are less than the total amount refunded, is pretty common with some credit card processors and Stripe.
Solution
Create a new bank account in the Chart of Accounts called Clearing Account.
2. Create a new Bank Deposit.
3. Select Clearing Account for the Account.
4. Select refund (negative amount) and any other payments included in the deposit.
5. Under Add funds to this deposit, select the Checking Account under Account and enter the total amount of the deposit as a positive number. The net deposit amount should be $0.00.
6. In Banking, the negative deposit is now a Match.
