Apply Existing Credit to an invoice

RodWright · ‎January 20, 2024

QB Mac 2014

I'm looking at the Receive Payments screen. I need to apply an existing credit to a customer's invoice. I've clicked the Apply Existing Credit button, I've select the appropriate invoice. My challenge is on the lower left of the screen it wants me to select where the Deposit is to go to. The funds have already been deposited, that's why there's an existing credit. The money's already been deposited into my checking account. If I select that again, then I'm going to get a double entry. What am I supposed to do?

RodWright · ‎January 21, 2024

I decided to get crazy, so I clicked on Apply credits, clicked on the invoice to have it applied to, clicked Deposit To to be my checking account, clicked Save, and everything worked as I'd hoped. The credit was applied to the invoice and there was not a deposit entry entered into my checking account. I did this for several similar transactions and never received a deposit into my checking account. Let me be clear, I had left the Amount field at zero because there wasn't any additional incoming money, just the use of credits. It would be nice if this was somehow indicated through QB either on-screen or through documentation, but I wasn't able to find anything that made this clear.

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AbegailS_ · ‎January 20, 2024

I understand that handling payments to maintain accurate books can be challenging. I'm here to guide you address the issue that you have, @rod.

To avoid double entry, you'll need to delete the credit that was created and edit the deposit. When editing the deposit, you can select the Accounts Receivable account to properly apply the existing credit to the customer's invoice. This help ensure that there is no duplication of entries.

I have an article here that you can use as a reference in the future: Create and apply credit memos in QuickBooks for Mac.

Furthermore, I've added this resource that contains details to help you efficiently manage your QBDT for Mac: QuickBooks Desktop Mac Guide.

Let us know how it goes or if you still have other questions about credit memos. I'll be in touch. Keep safe.

RodWright · ‎January 21, 2024

I decided to get crazy, so I clicked on Apply credits, clicked on the invoice to have it applied to, clicked Deposit To to be my checking account, clicked Save, and everything worked as I'd hoped. The credit was applied to the invoice and there was not a deposit entry entered into my checking account. I did this for several similar transactions and never received a deposit into my checking account. Let me be clear, I had left the Amount field at zero because there wasn't any additional incoming money, just the use of credits. It would be nice if this was somehow indicated through QB either on-screen or through documentation, but I wasn't able to find anything that made this clear.

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Apply Existing Credit to an invoice