Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Need help with 1099's or other Year End topics? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 1

How do I write off a credit balance?

 
1 Comment
Moderator

How do I write off a credit balance?

Good day, lorrinda.

Welcome to the QuickBooks Community. Let me help and guide you with writing off a credit balance in QuickBooks Online (QBO).

If you're referring to clearing out a customer's balance, you can declare the invoice as a bad debt in QBO. This way, it reduces your net profit by that amount.

You can check out this article for the detailed steps in writing off bad debt: Write off bad debt.

Otherwise, you can manually record a credit card credit to your account by following these steps:

  1. Click on the Plus (+) icon.
  2. Under Vendors, select Credit Card Credit.
  3. Choose the appropriate account from the Credit Card Account drop down.
  4. In the Account field, select the affected account. 
  5. Enter the amount and other credit card credit details.
  6. Click on Save and close once you're done.

That'll do it. You should be able to write off a credit balance in QBO.

Let me know if you have further questions and I'm here to help. Have a good one.

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us