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How to Enter a Credit Memo in QuickBooks

Customers will buy items or services they need to return from time to time. When a customer returns items or a client billing error has been made, it is possible to issue a loan memo to change the open balance of the customer. The effect of credit memos on the count is opposite and the balance is negatively reduced. Credit memoranda can be used to open up invoices automatically. If the customer has an unpaid balance, a pop-up message informs you. You may apply it onto the unpayable invoice when you enter a credit note to a client with a non payable invoice, hold it as an account credit or issue a refund (this option generates a check payable to the customer). How to Create a Credit Memo in Quickbooks, follow these seven steps.

This feature is the same in QuickBooks versions 2011–2016.

  • Click Refunds & Credits in the Customers panel on the Home page.

  • Select the customer from the Customer:Job drop-down menu.

  • Fill out the Credit Memo form as needed, including the date, credit memo number (which you can assign or accept QuickBooks' automated numbering), quantity, item, and item information.

  • To indicate how the credit memo should be given to the customer, tick the To be printed or To be e-mailed checkbox(es) or neither.

  • Verify the credit memo's entire amount, then click Save & Close.

  • If the customer has an outstanding balance, you will be asked how to apply it. After selecting an option, click OK.

  • View the client transaction history or the Open Balance Report to ensure that the credit memo was recorded appropriately.

  • Emery Milos
  • Sep 9 2021
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