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Native Ink
Level 1

Store credit

I have a customer that did some work for me but just wants a store credit for future purchases instead of money. How do I properly put this into QuickBooks online?

Solved
Best answer April 25, 2019

Best Answers
AlexV
QuickBooks Team

Store credit

I can help you record a store credit, Native Ink.

 

There are two ways on how to record store credit. We can use either Credit Memo or Delayed Credit. A Credit Memo is only applicable when recording a payment from a customer, while the Delayed Credit can only be added on an invoice. 

 

Here's how to create a credit memo:

  1. Go to the Plus icon and select Credit Memo.
  2. From the Customer drop-down, select the customer.
  3. Enter all necessary information.
  4. Select Save and close.

If you'd like to create delayed credit, you can follow the same process above, but select Delayed Credit instead of Credit Memo.

 

See Enter and apply a credit memo or delayed credit article for future reference.

 

You can reply on this thread if you have other concerns. Thanks for dropping by.

View solution in original post

2 Comments 2
AlexV
QuickBooks Team

Store credit

I can help you record a store credit, Native Ink.

 

There are two ways on how to record store credit. We can use either Credit Memo or Delayed Credit. A Credit Memo is only applicable when recording a payment from a customer, while the Delayed Credit can only be added on an invoice. 

 

Here's how to create a credit memo:

  1. Go to the Plus icon and select Credit Memo.
  2. From the Customer drop-down, select the customer.
  3. Enter all necessary information.
  4. Select Save and close.

If you'd like to create delayed credit, you can follow the same process above, but select Delayed Credit instead of Credit Memo.

 

See Enter and apply a credit memo or delayed credit article for future reference.

 

You can reply on this thread if you have other concerns. Thanks for dropping by.

View solution in original post

ATOZOOK
Level 3

Store credit

An additional question - A client has a consignment store.  At this time, we have been keeping track of the sale through the income account and the payment back to the consignor through cost of goods sold.  He just advised me his consignors are asking for store credit.  What would be the proper procedure in documenting those store credits?  

 

Thank you for your assistance.


Vicki

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