Quickbooks credit memo refund check4/5/2024 ![]() If you have charged the customer sales tax, we will cover this in an upcoming article. Select Other Income in the Account field.Select Non-Taxable Sales in the Tax Code field.Enter Clear AR Credit Balance in the Item Name/Number field.Click the Item button in the lower left corner.To Create the Item ‘Clear AR Credit Balance’ to Use When Writing Off Credit Balances Select the amount in the Available Credits window.Click the Apply Credits icon in the top ribbon.Select Clear AR Credit Balance item in the item field (See below to setup this item).Choose the customer in the Customer: Job field.Click Save & Close to close Receive Payments window.Select Bad Debts in the Discount Account field.Since the customer pays you 500 and the invoices to be paid are only 400, theres no option to automatically issue a credit memo for 100 in QuickBooks Online. Enter the amount in Amount of Discount field Once the customer overpays more than what was owed, you can enter a credit memo, refund the customer, or enter the overpayment as a tip in QuickBooks.Click the Discounts and Credits icon in the top ribbon.Click the invoice that you want to write off.Choose the customer in the Receive From field.As long as you have NOT charged the customer sales tax you can write off these balances by following these steps: To Clear a Balance Due Remaining On the top ribbon, click the Use Credit to Give Refund icon or Issue a Refund, which will allow you to refund this by cash, check, or credit card.ĭuring your Accounts Receivable review, you may discover customer balances due or credit balances. Open the credit memo that has the unapplied credit amounts. If you have any customer credit balances, you may choose to refund the customer. Reference the article “How to Issue and Apply Credit Memos” on our blog. These require the use of a credit memo or refund. ![]() In the normal course of business, a customer may return an item for which you have already recorded an invoice, customer payment, or sales receipt. It is important to keep your Accounts Receivable customer account balances accurate.
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