When you want to use them, click the Apply Credits button in the lower right corner of the invoice.įigure 3: When issuing a refund, QuickBooks can hold those funds to be applied to invoices later. Or, if you want to have those extra funds available for other invoices but don't want to apply them immediately, click Retain as an available credit.
When you do this an invoice list opens select the correct invoice. If the customer has open invoices, you may want to choose Apply to an invoice in the Available Credit window. You'll also have to deal with transaction fees. WARNING: If the invoice was paid with a credit card, your instructions will depend on whether you are using Intuit Merchant Service for QuickBooks or another merchant account service. The refund check has now been entered in the checking register, ready to be printed. The Issue a Refund window opens and should already be filled in. To refund the money, select Give a refund and click OK. The Available Credit window opens, displaying your options:įigure 2: The Available Credit window displays your credit balance options. Enter the items just as they appear on the invoice. Select the correct customer and job (and A/R account, if you have more than one). Apply the balance to an existing invoiceĬlick Customers | Create Credit Memos/Refunds.Let's say a customer pays for an order but cancels before it ships. Figure 1: QuickBooks helps you identify refunds quickly. If they aren't, you may find yourself unable to balance your accounts receivable. It's critical that these are entered correctly. There are numerous scenarios that necessitate a refund such as an overpayment or order cancellation.
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