Looking for the best option to either clear out a credit memo or remove the value for a customer.
In the past, we gave our customers a referral credit for sending us a new customer. We have discontinued this practice as we don't generate enough business that way. Some of these customers that we gave this credit too, still have this credit on their account and they are no longer in the area, or just don't care about it and I would like to zero out their accounts, so it does not show on there.
What is the best way of doing this without having to a check or something, that would affect the actual cash in our system?
Solved! Go to Solution.
We created a bogus invoice and applied the credit. The credit balance was showing as 0 until we hit OK and the invoice was marked as paid but the credit amount remained. How do we fix this?
Thank you for posting in the Community. I'm here to assist you with using the customer credit balance on an invoice.
The credit balance of the customer will show as negative on the customer list. Let's make sure to use the available credit on an invoice by selecting the Apply Credits option.
Once done, you can go back to the customer list and check if the balance changes. I've also attached a couple of screenshots for your guide.
I'll be on a lookout on how this goes. I encourage you to add some screenshots by posting a comment down below.
We have lots of small credit amount for all kinds of different customers and stores (1000 different stores), what is the easiest and efficient way to clear all of them without by clicking each customer's account? I was looking for solution though transaction pro software but no progresses. Please advise. Thanks.
Hi there, WINWIN.
Currently, there isn't a way to delete customer credits without opening each customer. You'll need to open the customer's profile first and open the credit to delete it. it.
For now, you can request your preferred way of deleting these transactions to our developers. Just click Help at the top, select Send Feedback Online, and choose Product Suggestion.
Reach us again if there's anything else you need.
Hello there, @snikes123.
Good to see you here in the QuickBooks Community. I'm here to help walk you through on how to cancel the credit applied to the transaction.
Here's how to remove a credit memo from an invoice transaction:
However, if this is a vendor credit from a bill, you can follow the detailed steps on to remove it: Remove or unapply a credit from an invoice or bill.
That should do it! Don't hesitate to leave a comment below if you have additional questions about the credit memo. I'd be happy to answer them for you. Have a great day.
Hi there, @jeanylum.
You don't need to create a new product memo. You'll want to create an invoice to offset the balance. Let me show you how:
Once you've done creating an invoice then we can received payment to apply the credit to the invoice.
I've got here an article to know more about credit memo: Give your customer credit or refund in QuickBooks Desktop for Windows.
You can visit our website in case you need tips and related articles in the future.
Let me know if you need anything else. All the best!
Thank you for joining the thread, @Supergirl17.
There are other ways you can write off a customer's credit in QuickBooks. You can create a journal entry, however, be sure to reach out first to your accountant before using this option.
For customers with an overpayment, you can perform the following steps:
For more information, you can check out this article: Write off customer and vendor balances.
Keep me posted if you need anything else. I'm here to assist if you need help. Have a good one.
Hi. When using the General Journal method, is it recommended that I change the date on the new general journal to the date of the original credit even though it is in a closed period? Or should I leave today's date?
When creating the offset Journal entry, should I change the date of the entry to the date of the original credit even though it is from a closed period or should I leave it as today's date?
When making an offset JE in QBO, wouldn't you want to void the credit memo, then make the offsetting JE for the date of the invoice so that it doesn't change account balances for the year they occurred?
I appreciate you for joining the thread, @Akurtz2021.
Yes, you can void or delete the credit memo, then go ahead with recording a journal entry. I'm here to guide you with the process.
To void the credit memo:
When creating an entry, I would recommend seeking assistance from a professional accountant. This way, he/she can assist with using the correct accounts and track your transactions accordingly.
For more tips about recording journal entries in QuickBooks Online, you can open this article: Create a journal entry in QuickBooks Online.
Moreover, here's an article you can read more about applying a credit memo to an invoice.
If you have any other questions about managing your customer transactions, please let me know by adding a comment below. I'm always here to help. Have a good one!