On the bottom under More click on the Delete button.
Go to the Plus Sign (+) and click Receive Payment. When issuing a credit memo, the seller, has to return some amount of money to the buyer. (If you don’t see this, click show more.) A credit note, or a credit memo, is a financial document that companies issue to indicate a reduction in the amount that needs to be paid whenever there is an invoice mistake, problems with damaged goods, or a purchase cancellation. Go to the Plus Sign (+) and select Credit Memo.Refunds are used to show money given back to a customer to refund for services the customer is not happy with, to offset a credit balance, merchandise or service not received, or an overpayment.Ĭreating a Credit Memo and applying it to an Invoice: Delayed Credits don’t affect a customer balance until they are included on a saved invoice. A delayed credit is a non-posting transaction that you can include later on a customer’s invoice.Ī refund is a posting transaction that is used when reimbursing a customer’s money.Ĭredit memos are used to offset an existing customer balance.ĭelayed Credits can be included only on an invoice.
Choose “save and close” (if necessary, click the dropdown on the green button to change it from save and send to save and close).The rate is the amount ($$) that you wish to write off for a client.The product/service is “bad debt”, using this will ensure you see the amount ($$) of the credit memo as a separate line on your profit and loss.Click on +New in the upper left hand corner.Once created you can apply the credit memo to an open invoice for that customer at any time. In QuickBooks you can use a credit memo if a customer paid more they owe you, returned a product, requested a refund, or if you’re giving them store credit.