Refunds do not export from Shopify, Amazon and Esty to Zoho. And then do not go from Zoho inventory to Quickbooks.
I have a huge hole in my accounts from refunds and the lack of synchronisation between shopify , Amazon and Etsy to Zoho ( i.e when I process a refund on shopify/ Amazon or Etsy it does not come through to Zoho) and then if I process a manual credit note/ refund starting in Zoho alone ( for a wholesale customer) it does not come through to quick books. So all the refunds I have done just show as negative balances in Quickbooks
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ZOHO Inventory - Early Access
https://twitter.com/zoho/status/646715717849493504