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Join nowWe are a church. Just before the COVID pandemic a customer was invoiced and paid for renting our sanctuary for an event. The event then had to be cancelled and the payment is being held at the customer's request, pending re-scheduling the event. How can I record the amount being held as a liability that we have? For example, the customer could ask for their money back instead of rescheduling.
Solved! Go to Solution.
It's nice to see you again here in the Community, @finance139.
I'd be pleased to help you manage the payment that you received from your customer.
You can create a credit memo in the system. This way, you can issue a refund if the customer will ask for the money or apply the credit to the next invoice if they're going to reschedule it.
To create a credit memo:
If the customer reschedules the event, you can simply apply the credits to the outstanding invoice.
Here's how:
If the customer wants a refund, you can always follow these steps:
For complete details about managing customers payments in QuickBooks Online, you may utilize these resources:
Know that you can always get back to me if you need more help with invoices or payments. I'll be around to provide continued support. Take care!
It's nice to see you again here in the Community, @finance139.
I'd be pleased to help you manage the payment that you received from your customer.
You can create a credit memo in the system. This way, you can issue a refund if the customer will ask for the money or apply the credit to the next invoice if they're going to reschedule it.
To create a credit memo:
If the customer reschedules the event, you can simply apply the credits to the outstanding invoice.
Here's how:
If the customer wants a refund, you can always follow these steps:
For complete details about managing customers payments in QuickBooks Online, you may utilize these resources:
Know that you can always get back to me if you need more help with invoices or payments. I'll be around to provide continued support. Take care!
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