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Intuit
237 helpful votes

Enter and apply a credit memo or delayed credit

Learn when and how to give a credit memo or delayed credit to a customer.

Unsure whether to enter a Credit Memo or Delayed Credit? Here, we outline what makes these two different, and how you can apply them to your customer transactions.

If you need to record a customer refund instead, get more help here.

Enter an apply a credit memo

Step 1: Enter the credit memo

  1. Select the + New button.
  2. Select Credit Memo.
  3. Fill out all required fields (including the customer name, date, products/service items, quantities, and amounts).
  4. Select Save and close.

Step 2: Apply the credit memo

  1. Select the + New button.
  2. Select Receive Payment.
  3. Complete these fields as follows:
    • Customer
    • Date
    • Memo (optional)
    • Note: Leave the fields Pymnt Method, Ref#, Deposit to, and Amount blank.

    • Under Credits, select Credit Memo.
    • Verify that the total to pay (if any) is correct after applying the Credit Memo.
    • Select Save and close.

Enter and apply a delayed credit

Step 1: Enter the delayed credit

  1. Select the + New button.
  2. Select Delayed Credit.
  3. Complete all the necessary fields (including the customer name, date, products/service items, quantities, and amounts).
  4. Select Save and close.

Step 2: Apply the delayed credit

  1. Select the + New button.
  2. Select Invoice.
  3. Choose the appropriate customer and complete the necessary fields.
      Note: Available delayed credits are listed on the right pane of your invoice. If you don't see this, select the arrow next to the invoice balance.
  4. To add a delayed credit to the invoice, select Add.
  5. select Save and close.

Note: Adding a delayed credit to an existing invoice with a prior period date will change prior period balances.

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