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How do I write off a credit balance?

 
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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.

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