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tld999
Level 1

New to QB and thinking of purchasing for our small HOA.  If we need to issue a customer (HOA member) a credit memo for item or service they did on behalf of the HOA,  can the credit memo to be issued to their A/R account be offset against an expense item so the item shows as an expense on the P&L?  In the tutorial I see on line, it looks like the credit is processed by indicating the "Project/Service".  Is this the same as a hitting the expense line for something like "tree trimming", as an example?   The customer would later be invoiced for their full HOA dues, but they would eventfully just pay the difference. Here is the tutorial I viewed: https://quickbooks.intuit.com/learn-support/en-us/customer-refunds-and-credits/how-to-record-custome....

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Best answer July 25, 2020

Best Answers
Rustler
Level 15

create an item (non inventory usually) and link it to the expense account, then use that item on a credit memo

 

When the credit memo is saved the expense is posted and the credit memo is held in a/r for that customer.  When that customer is invoiced at some later date, the credit memo can be applied to reduce the amount due.

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2 Comments
Rustler
Level 15

create an item (non inventory usually) and link it to the expense account, then use that item on a credit memo

 

When the credit memo is saved the expense is posted and the credit memo is held in a/r for that customer.  When that customer is invoiced at some later date, the credit memo can be applied to reduce the amount due.

View solution in original post

tld999
Level 1

Perfect!  Thanks!

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