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Angie3124
Level 2

Credit Memo's

I have a very high volume client.  One payment from one customer of this client submits a payment remittance with over 1,000 invoices and almost 900 credit memos.  I have Transaction Pro and I can easily separate out the invoices and "receive payment" through Transaction Pro, but what do I do with these Credit Memos?  I can't delete them, I can't set them to auto apply for just this one customer, and I can't mark them as "paid" with transaction pro.  So they are just hanging out there and I don't know what to do with them.  The only solution I can come up with is create an invoice of the total amount of the CM's, then create a payment, but then I have to click every single one of the almost 900 transactions to apply to this one invoice (because this customer jumps around and doesn't pay in order).  Does anyone have any suggestions on a solution to this issue.  I need to get these CM "applied" with this payment.  

3 Comments 3
Joesem M
Moderator

Credit Memo's

Thanks for visiting the QuickBooks Community. Allow me to help apply your credit memos, @Angie3124.

 

The solution that you think is correct, you can create an invoice with the total amount of the credit memos. You can turn on the credit memo auto-apply feature, so you don't have to click every single transaction. This feature will automatically apply credit memos to customers' balances or open invoices. Let me guide you on how.

 

  1. Go to the Gear icon.
  2. Click Account and Settings then tap the Advanced tab.
  3. Select Edit ✎ in the Automation section.
  4. Click Automatically apply credits.
  5. Hit Save, then Done.
    Capture.PNG Capture.PNG

Once done, you can proceed in applying it to the invoice. Follow the steps below on how:

 

  1. Click Sales from the left pane.
  2. Select Customers and click the customer’s name.
  3. Locate the invoice you want to apply the credit to and click Receive Payment.
  4. Enter the necessary information on the Receive Payment window.
  5. In the Outstanding Transactions section, make sure that the correct invoice is selected.
  6. Click Save and close.

Capture.PNG

The steps above will help you apply the credit to your customer’s open invoices. For your reference, you may check out this article: Apply a credit memo, credit, or refund to a customer.

 

You can also pull up the Customer Balance Detail report. This report, lets you know what payments and invoices make up each customer's current outstanding balance. Just go to the Reports menu Under who owes you choose Customer Balance Detail report.

 

Also, you can check out these articles below about, paying bills and handling vendor credits in QuickBooks Online for your future reference:

 

 

Keep me updated on how it goes. I'll be around to help if there's anything else you need with applying for credits. Wishing you well!

Angie3124
Level 2

Credit Memo's

But this solutions sets ALL customers up to automatically apply CM.  I don't want to do that. I just want this ONE customer set up that way.  Some of the other customer's CM have to be applied to specific invoices and this setting will take that ability away.

Charies_M
Moderator

Credit Memo's

Welcome back to this thread, Angie3124.

 

Any changes made in the Advanced settings like turning on the Automatically apply credits option will apply to all of your customers. 

 

Here's an article to become more familiar with managing your company settings in QuickBooks Online (QBO): Edit company settings in QuickBooks Online.

 

We're always open to suggestions and ideas to help us improve the product. QBO is constantly changing and evolving based largely on the suggestions and requests of users like yourself. 

 

For now, I want you to get in the loop about the latest news and product developments in QuickBooks. That said, I encourage you to visit our Firm of the future site. To narrow down your search, you can go to the Product & Industry News tab.

 

If I can be of help while working in QuickBooks, please let me know. I'll be here to help. Have a good one!

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