Refunds come over from Revel to QuickBooks Desktop as part of the Sales Summary invoice that is created daily. Refunds come over as a Refund Substitute in a Credit Memo in QBDT. This credit memo is attached to an Invoice for that day. Transaction ID's are also sent over for reconciliation purposes and in the Memo section Revel will send over the payment type for this refund (example; Total Refund from CASH).
Refunds in QBDT will appear as a line item on the invoice for the daily Sales Summary as “Refund Substitute”. The Refund will come over as a positive amount on the invoice. This means that the invoice will appear as positive the refund amount which will show differently to the Revel account. The accounts in both Revel and QBDT will be the correct sales summary amount, while the invoice will be that same amount plus the refund amount.
Refunds will appear as;
Revel’s Sales Summary
Taxable Sales: $100
Item Discounts: $20
Net to Account For/Total Payments: $100(taxable sales) +10(tax) – 20(item discount)
*Returns are not included into total payments as the taxable sales and tax has the return already reflected on it
Taxable Sales Line Item: $100
Item Discounts Line Item: -$20
Refund Substitute Line Item: $10
Subtotal: $90 ($100 – $20 + $10)