Connect with and learn from others in the QuickBooks Community.
Example: Magazine Deliveries
Customer issue a PO to receiver 100 magazines
Invoiced is created in QBs for 100 mag x $2.55 = $255.00
Customer pays the PO for all 100 magazines of $255.00 with a discount $5.10.
Payment is applied for $255.00 and discount is taken invoice is now zero.
Customer then issues a credit memo for 25 magazines x $2.55 = $63.75 magazine that were not sold and returned.
QuickBooks will not let me apply the credit to an invoice that has been payed in full.
That would be correct, the invoice is paid, the transaction is complete
you can still create the credit memo for the customer, when you save it QB asks if you want to retain it as a credit to be applied later, or refund the amount