Hi there, MariaSmith.
Thank you for posting here in QuickBooks Community.
Yes, you can create a memorized transaction from the invoice you've created. This way, the transaction will repeat the way you set up the invoice and get a reminder every time it's due.
Here's how:
1. Click Customers menu. Then, Customer Center.
2. Select the appropriate customer and open the transaction you’d like to memorize.
3. Double click the invoice transaction.
4. At the top right select the memorized icon.
5. Fill in the necessary information.
6. Click OK.
Please check this article for more details in creating ,deleting and tips for memorized transaction: Create, edit, or delete memorized transactions.
You may apply the available credit when the payment is received
The transaction shows in cash basis report is based on the payment date. It means the payment was dated for next month even its already applied with the credit. That is why its still show on the following month.
Please check this article this article difference between Cash and Accrual basis and how to set them as preferences in QuickBooks Desktop for Windows: Differentiate Cash and Accrual basis.
Let me know if there's anything else I can do to help you succeed with QuickBooks.
