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Applying credits

Good evening,

 

When I go to customers/apply finance charges sometimes there are customers that appear with an * indicating that they have credits available that are unapplied.  Sometimes there are a lot of them, since some of these customers prepay and then I bill.  It takes me forever to go to each account, pull up the invoice and apply credits manually.  Is there any way that I can issue a blanket command to apply credits to anyone who has one coming and who has an invoice open that can take it?  HELP!  Thank you so much.  I work cell is [removed] if anyone want to text or call.    Thank you so much!! 

3 Comments
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QuickBooks Team

Re: Applying credits

Hi there, @Lillyd1.

 

You can turn on the automatic application of payments from your settings to apply open credits. Let me guide you on how this is done.

 

When you have open credits and want them to be automatically applied to invoices, you'll need to turn this feature on in QuickBooks. You can follow the steps below:

  1. Click on Edit from the menu bar.
  2. Choose Preferences.
  3. Select the Payments tab from the left panel.
  4. Click on Company Preferences.
  5. In the Receive Payments section, tick the Automatically apply payments checkbox.
  6. Click on OK to apply the changes.

Once done, any open credits in the future will automatically be applied to your open invoices with the same customer.

 

You can also visit our Help Articles page if you want to learn some "How do I' steps in QuickBooks Desktop.

 

Don't hesitate to get back to me if you have any other questions. I'll only be a post away.

Not applicable

Re: Applying credits

Thank you so much for responding.  I went in there and the box is already checked.  Is there a function that lets me apply any available credits all accounts before I assess finance charges?  

QuickBooks Team

Re: Applying credits

Hello there, @Lillyd1.

 

Yes, there are two scenarios on how to apply for available credit in QuickBooks. Let me show you how to do it.

 

If your customer pays an extra amount above an invoice total, QuickBooks Online automatically creates a credit.

 

Here's how:

  1. Find and open the invoice you want to apply the credit to.
  2. Select Receive payment.
  3. Under Outstanding Transactions, click all invoices that you want to apply the credit to.
  4. Scroll down, then select the credit that you want to apply on the invoice(s).
  5. Click Save and close.

On the other hand, If you're unsure how to record a refund, don't worry. Here's how to return your customer's money, depending on various refund scenarios. Follow the steps below.

 

  1. Open your company file.
  2. From the QuickBooks Home screen, click the Refunds and Credits icon.
  3. In the Customer Credit Memo screen, enter the appropriate customer name and amount to be refunded.
  4. Click Save & Close.
  5. In the Available Credit screen that appears, select Give a refund then click OK.
  6. In the Issue a Refund window, select the credit card type to be refunded

To learn more on how to manage refunds and credit memos in QuickBooks, you can refer to this article: Void or refund credit card payments in QuickBooks Desktop.

 

Please let me know if you have any follow-up questions. I'm here to help. Have a nice day!

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