![]() You need to decide if you want this credit to automatically be applied to the next invoice you create for that customer or if you want to apply it manually at some future time.Īs I mentioned above, I have my system set up to automatically apply the credit to the next invoice created for that customer. This will then create a credit for the customer. (ie: Save & New, or Save & Close, etc.) Please note, you MAY have to check the box that says "I have authorization and would like to process this transaction." before the system will allow you to save the payment. If this is a customer we do quite a bit of business with then I will receive the payment normally in the following way:ġ) Click New button on main screen & select "Receive Payment."Ģ) Select customer & then complete rest of form as normal by recording type of payment, any notes & amount of payment.ģ) If you have NO open invoices for the customer then the system will note (on the bottom of the form) that the transaction will create a credit when you save it.Ĥ) Save the transaction as normal. When I receive a payment that will create an invoice (occasionally some customer pays too much OR accidentally pays the same invoice twice. I do NOT know how to create a Credit memo.well actually, I muddled through once when a customer asked for it but normally, I don't do this.I just apply the payment to the appropriate customer & I have my system set up to automatically apply to the next invoice created for that same customer. I'm just a user who believes in doing things the EASY way. Let me start by saying I am NOT an accountant. Let me know if there's anything else you need in managing payments and customer transactions in QBO. You may want to check out this article as your reference in doing and fixing reconciliations in QBO: Learn the reconcile workflow in QuickBooks. Īlso, I encourage you to reconcile your checking account in QBO regularly (every month) to monitor your income transactions. For the step-by-step guide, please see this article: Categorize online bank transactions in QuickBooks Online. Once you're done, go to the Banking menu and link or match the invoice to your downloaded deposits in your checking account. When you're done, select Save and close.Make sure the total is correct after applying the credit memo. Fill out the rest of the form, including the Payment date. ![]() Leave the Payment method, Reference no, Deposit to, and Amount received fields blank.For the open invoice in the Payment column, enter how much of the credit you want to apply.In the Credits section, select the credit memos you want to apply. ![]()
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