I'm using QB online to manage vacation rental property. Each rental is a separate invoice. Customers pay us a deposit and later the balance. This works well for us until we have a cancellation.
When a renter cancels, we refund the deposit paid. According to online tutorials I follow these steps:
- I create a credit memo for the ENTIRE original invoice. This leaves the customer with a negative balance (i.e. refund due) The credit memo only applied the balance amount as payment on the original invoice.
- At this point I have tried several things - none of which change the credit memo from 'unapplied' or credit the customer with the refund. I tried creating a refund receipt and linking the bank credit transfer to the customer - they all show for the customer's transactions but the customer still shows as having negative balance. Basically the credit memo closes the invoice by crediting the BALANCE of the invoice and leave the refund 'unattached' to anything.
- The customer transaction list shows the amount of the refund as 'open' negative balance even though I have issued a refund and recorded payment to the customer.
What am I missing on how to show that this customer has a 0 balance and the invoice was credited in full...I've tried attaching a screen shot of the customer transaction page but it won't accept my post.
