Hello,
It's a great idea to stay on top of your customer's balances and credits. QuickBooks Online makes it easy to void or delete a transactions. I'll be happy to show you how.
To void or delete a Credit Memo, follow these steps:
- Select Sales from the left menu
- Select the Customers Tab
- Select the customer with the Credit Memo
- Select the Credit Memo you wish to void or delete
- Select More from the bottom menu
- Select Void or Delete
Keep in mind that voiding doesn't remove the transaction. When you void a transaction, you still have a record of it with the same date but zero amount. You can always go back to and restore a voided transaction. Voiding is particularly helpful if you need the transaction details for reference, and is an accounting best practice.
On the other hand, deleting removes the transaction completely. Consider the following before you delete a transaction:
- There is no way to recover or restore deleted transactions. The only record of the change is in the Audit Log.
- Deleting transactions can change amounts for prior periods.
- If you delete transactions that were previously reconciled, the next reconciliation beginning balance will change.
- If the deleted transactions are linked to other transactions, it can cause accounting issues.
For your reference, here's a community article with more details on how to void or delete transactions.
Let me know if you have any other questions.
