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Giving a customer back their overpayment

Newbie_VanNewbie_Van Member Posts: 1

Hi!

I had a customer that overpaid me via Square. When I noticed that I created an short-term liablity account "Customer overpayment". I recently refunded her money via Square. I am confused on how to reflect this on my books because there really is no expense with this. Can someone show me the journal entry to move the money from the "Customer overpayment" liability account and keep my books balanced.

Thank you for all your advice.

  • Newbie_Van
in Help Center Discussion

Comments

  • KristenVKristenV Member Posts: 121 admin

    Hi @Newbie_Van

    Are you able to explain the process you took a bit more? It would be helpful to understand how you recorded the payment and the overpayment, as well as what you refunded to your customer (i.e., the full payment or only the overpayment amount). Once I have a better understanding of your situation, I would be happy to help point you in the right direction!

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