This post has been closed and is not open for comments or answers.
Quicken Community Home Page

How do I record returned merchandise that has already been charged to my credit card?

I don't know how  record returned merchandise that has already been charged to my credit card? The return amt looks like income.  For example, if I buy something at Costco and return it.
Thank you.
    Each time you use your Credit Card, either to purchase or return something...or even to get an adjustment for some service previously paid via your credit card ... a separate transaction or line is created on your credit card statement.

    When Quicken interfaces or downloads your information from the credit card company each transaction stands separtely.

    Thus it is important that each have a separate transaction in Quicken.

    There are a least two ways to handle your tracking:
    1. Save each credit card slip in an envelope makde for each credit card, say "University MasterCard -**1234"
    2. When ever you run Quicken Update or One Step Update or download from your credit card site, in those rare cases when Update or On-Step-Update are not available, you will have some new transactions to accept.
    3. Open the envelope and accept only those that you have a slip (receipt) for, be they puchases or returns.  This is great because two things happen for you:
    A. you can see there is practically no typing for you to key in!
    B. you can quickly spot transactions that are not yours. (but you must keep all those slips of paper to match up what was downloaded)

    The second way is similar, but you enter each purchase as you go along, prior to any downloading
    The steps:
    1. Enter each transaction as you incur them.
    2. Store the slips in an envelope for each month, no need to separate each kind of credit card, just have an envelope for each month.
    3. When you download an up date from your credit card company ONLY accept items that "automatically match"
    4. Anything that does not match might be a lost credit ard slip or a transaction that does not belong to you.

    By the way, in using Quicken for over 15 years now...I only had two items ever show up that were not mine.
    Generally missing items will trace out to a slip left in your auto's glove box, a man's wallet or a woman's purse.
    So check around before call your credit card company to report a suspect issue.

      Similar questions other people found helpful: