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Is there a way to turn this credit into a credit memo?

 If a customer overpays their account and we don't put the full payment amount in we can not reconcile the bank deposit. If we put the full payment in we can only give the customer a credit and not a credit memo. but it is non-posting and difficult to work with.

Best answer 12-10-2018 09:07 PM

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you have to put the full amount received in.  that's what...

you have to put the full amount received in.  that's what you got.  QB allows you to do one of two things with the overpayment:

1. Leave the credit to be used later

2. Refund the amount to the customer


If you choose to leave the credit to be used later, QB asks if you want to print the credit memo.

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Not applicable

you have to put the full amount received in.  that's what...

you have to put the full amount received in.  that's what you got.  QB allows you to do one of two things with the overpayment:

1. Leave the credit to be used later

2. Refund the amount to the customer


If you choose to leave the credit to be used later, QB asks if you want to print the credit memo.

Not applicable

Thank you for helping. So basically there is no way to ch...

Thank you for helping. So basically there is no way to change a delayed credit (non-posting transaction) to a credit memo (posting transaction)
Not applicable

when you receive the payment, it posts.  when you create...

when you receive the payment, it posts.  when you create the CM, that posts too.
Not applicable

Hi did you ever figure this out? My customer overpayed, Q...

Hi did you ever figure this out? My customer overpayed, QB asked and I answered credit to be used later. It asked me if I want to print it, I said no when I should have said yes. Is there a way to go back and print that now?
Established Community Backer ***

you can print a statement which will show the credit balance

you can print a statement which will show the credit balance
Established Community Backer ***

"It asked me if I want to print it, I said no when I shou...

"It asked me if I want to print it, I said no when I should have said yes. Is there a way to go back and print that now?"

That isn't really a "Credit Memo" but a Payment Credit document. There is only that Payment as the transaction type. There is no Transaction holding the Overpayment; it is part of the Math from that payment.


Established Community Backer ***

There is no Delayed Credit when you got actual Money. Tha...

There is no Delayed Credit when you got actual Money. That money over what they owed is a Credit already. And don't create a credit memo when you already have a Customer Overpayment condition. The overpayment is Negative AR; a credit memo now is another Negative AR = you doubled it.

Active Member

Re: There is no Delayed Credit when you got actual Money. Tha...

When you go to the payment transaction that has the overpayment and click on print, it gives you the option there to print a credit memo (even after you initially said no)!

 

Hope this helps!

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Experienced Member

This seems like a flaw in QB that should be fixed! I had the same situation - a customer overpaid so I chose to keep the overpayment as credit on the account. However, there really SHOULD be an actual credit memo that can be tracked and sent to the customer so they can log it into their system. When it asks you to print the credit memo, it should also give you the option of logging this as a credit memo that you can give a credit number to and send to the customer.

 
QuickBooks Team

Re: This seems like a flaw in QB that should be fixed! I had the same situation - a customer over...

Hi there, @tsd81,

 

You can print the list of credit memos and send them to your customer. Just make sure to filter the transaction type by Credit Memo.

 

Let me guide you through on how to accomplish this:

  1. Go to Customers, then Customer Center.
  2. Locate the customer, then click Open Balanceopenbalance.PNG
  3. Click Customize Report.
  4. Go to Filters.
  5. Search filters by Transaction Type.
  6. Select Credit Memo, then OKcreditmemo1.PNG
  7. Click Print to print the Report or Save as PDFcreditmemo2.PNG

You can now print the credit memo of your customer.

 

If you have any other questions, I'd be glad to help them. Thank you and take care.

Experienced Member

Re: This seems like a flaw in QB that should be fixed! I had the same situation - a customer over...

Thank-you. However, this does not work for the case in question. Try in this circumstance:

1. A customer sends a payment that is greater than the open invoice.

2. When you enter the payment, QB will ask if you want to apply the overpayment as a credit on the Customer's account or give a refund. If you opt to apply the overpayment as a credit, QB will ask you if you want to print a credit memo, which you can print to a PDF if you know this is your only chance to do so. However, the PDF credit memo does not have a Credit Memo number, reference a PO number, or even allow you to include any information in the memo that gets printed. Even worse, the credit is NOT saved as a credit memo in the system so it DOES NOT show up when you filter by Credit Memo as you have shown above. It is stored as a "delayed credit" which is handled differently than a Credit Memo and cannot be displayed ever again as a credit memo from within QB. You can send your customer an account statement with an explanation of what happened but this is a poor solution (in my opinion). The better solution is for QB to allow you to create a Credit Memo in this situation so you can enter information about the circumstances of the overpayment and can look at and send it like a Credit Memo. In my case, the customer overpaid an invoice because the invoice originally sent had the wrong amount for an item purchased. The invoice was corrected but the customer paid the original amount so there was an overpayment. I would have liked to be able to send them a Credit Memo that explained which Invoice had been overpaid and why. It would also provide a good record within QB to explain what that credit was all about in case someone needed to try to figure it out. When it is stored at "delayed credit", you cannot see anything about it except the payment that was made at the time it was created. I figured out how to get around the problem but I am not the first user to have this problem and hope that QB developers will fix it in a future release. 

Moderator

Re: This seems like a flaw in QB that should be fixed! I had the same situation - a customer over...

Greetings tsd81,

 

I want to thank you for providing the complete details of your concern. This will help us isolate the situation.

 

Let me help create a printed record for the customer's overpayment.

 

You could print the transaction history of the payment, so you can see the invoice, amount, and overpayment. If you want to enter a note, write it in the Memo field and it should be included once you print it.

 

Let me show you how:

  1. Go to Customers at the top menu bar.
  2. Choose Customer Center, then select the customer's name.
  3. Under the Transactions tab, double-click the payment to open it.
  4. On the Customer Payment screen, choose Reports at the top.
  5. Select Transaction History.
  6. Click Print, then Preview.

image.pngimage.png

 

You can send the transaction history to your customer, so they'll have a good view of their payments.

 

I'll share this article too for reference: Accounts Receivable workflows in QuickBooks Desktop.

 

That should get you on the right track. Please let me know how that works for you. I'm to here provide you additional assistance if you need anything else. Have a good one.