In this article we’ll walk you through how to set up a “Refunds Issued” service item linked to chart of accounts in QuickBooks as well as how to ensure it’s properly set up in your QuickBooks Dashboard in HoneyBook
Follow these steps to set up a “Refunds Issued” service item linked to a chart of account in Quickbooks
From the left side navigation panel, select Sales > Products & Services
On the side panel that appears, select “Service”. This is the standard selection for a line item that’s a service you provide to your clients. Refunds given would also fall into this category.
You’ll now be prompted to enter details about the service. For this example, we are going to use “Refunds Given”. Once you’ve entered the service details, don’t forget to also link it to it’s corresponding chart of accounts (or “income account”). You may need to create a "Refunds Given" chart of account if one does not exist.
To create a new chart of accounts (or new “income account”) select “New” under the Income Account dropdown. The following panel will open next for you to create the corresponding chart of account to be linked to this service. Hit “save and close” to be taken back to the previous screen.
Now you will see your newly created chart of account (or income account) linked to your service item. Before saving and closing, be sure to review the sales tax for this item to ensure your preferences are selected or edit as needed. Then, hit “save and close”. Your service item is now created and linked to it’s corresponding chart of account in QuickBooks.
It’s time to head back to your QuickBooks Dashboard in HoneyBook. Once you’re there, you will need to refresh the synced account to ensure this newly created account is reflected. To do this click Sync your accounts
Once you’ve refreshed your synced accounts, you should be able to select it as the QuickBooks account to link with refunds.
Still have questions? Feel free to send us a message by clicking theQuestion Mark icon on any HoneyBook page. Our team is always happy to help!