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Invoice issues - do I void or do a credit memo if the customer wants a refund?

a question about voiding invoices - the end of last year we had a customer that made a partial payment, and then decided to dispute the credit card charge, because she didn't want the product. It wasn't till this year(Feb) that the credit card company resolved the case and credited that money back to her. I went in and refunded her money by creating a credit memo, and zeroed the invoice out. My problem that I'm running into, is that my A/R reports for last year are showing the transaction, therefore showing that we made money that we didn't. THe credit memo is not till this year, when it took it back off the books. Should I just have voided the invoice? Or how do I get it all into the same year? I had not paid sales tax on it yet, because we had not received the full payment for it. What happens if I back date the credit memo till Dec. 31?
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Best answer 03-16-2018

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QuickBooks Team

Invoice issues - do I void or do a credit memo if the customer wants a refund?

Hello there, OS18.

 

No worries! I've got your back in getting your books straightened out.

 

It could be that you applied the wrong invoice to the credit memo. That's the reason why you're still seeing an invoice in your A/R reports. What you can do is go back to the invoice you applied to the credit memo, and verify if it's the correct invoice. Otherwise, you'll have to void that invoice and locate the right one to apply to the credit memo.

 

To delete an invoice, simply follow these steps:

  1. Open the invoice.
  2. Click More at the bottom.
  3. Select Void and click Yes to confirm.

For more details on how to apply a credit memo to an invoice, please refer to this article: Apply a credit memo, credit or refund to a customer.

 

You can always get back to me if you have follow up questions. Thank you for your time and have a good day ahead.

View solution in original post

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Highlighted
QuickBooks Team

Invoice issues - do I void or do a credit memo if the customer wants a refund?

Hello there, OS18.

 

No worries! I've got your back in getting your books straightened out.

 

It could be that you applied the wrong invoice to the credit memo. That's the reason why you're still seeing an invoice in your A/R reports. What you can do is go back to the invoice you applied to the credit memo, and verify if it's the correct invoice. Otherwise, you'll have to void that invoice and locate the right one to apply to the credit memo.

 

To delete an invoice, simply follow these steps:

  1. Open the invoice.
  2. Click More at the bottom.
  3. Select Void and click Yes to confirm.

For more details on how to apply a credit memo to an invoice, please refer to this article: Apply a credit memo, credit or refund to a customer.

 

You can always get back to me if you have follow up questions. Thank you for your time and have a good day ahead.

View solution in original post

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