What is a Credit Memo in QuickBooks?( steps to create)

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As we are aware that QuickBooks is brilliant software. It very easy to understand and having a user-friendly interface. Quickbooks software helps us to create invoices, tracking our income and expenses, and many more things we can do with the help of QuickBooks.  Quickbooks is having lots of exciting features. One of these features is a credit memo in Quickbooks.

In this blog, we are going to discuss what is a credit memo in Quickbooks and its various aspects.

Credit memo in Quickbooks is that document that helps us to track the reduction in payments and customer payments. With the help of a credit memo, will get a transparent picture of credit ( if it is given to any customer). 

Sometimes customers buy the items or services but later due to some reason they return the purchase in that case credit memos are created or you can say we issue a credit memo to the customer for adjusting the balance.

Steps to create credit memos in Quickbooks

follow these steps to create credit memo in QuickBooks :

  1. Firstly you have to open Quickbooks software
  2. Then click on the refund and credit option which is there on the homepage
  1. After that, you have to click on the customer job drop-down list option you need to select the customer
  2. Then enter the credit memo details like date, a credit number, and so on.
  3. You can click on the checkbox how you want to send the credit memo to the customer whether you want to through email and you want a printout.
  4. Then most important step you need to verify the credit amount and after that click on the save button and then close the window.
  5. If any balance is left in the customer account then a message window will prompt on your screen then select the option and click on the ok button.
  6. At the last, you have to confirm that the credit memo is created properly for that you have to view the customer transaction history or you can check the open balance report.

Steps to create a credit memo in Quickbooks for returned things

follow these steps to create credit memo in QuickBooks for returned goods(all these goods are returned to company):

  1. Firstly you have to click on the create credit memo button
  2. Then select the customer from the create memo window for the customer job drop-down list
  3. Enter or add the details of the returned item and then click on the Save button 
  4. Then click on the close button to close the window
  5.  After that open the credit window and then select the apt option from that window for retaining the available credit,  for giving a refund, and for applying invoice.
  6. Then click on the ok button.

Steps to issue a refund check

  1. Firstly you have to click on the write check button which is there under the banking menu bar.
  2. Enter the details as mentioned on the screen
  3. Then you ave to link the check 
  4. Now click on the save button and then close the window
  5. Then you have to click on the received payment option 
  6. After that click on the overpayment transaction
  7. Now you have to choose the refund amount of the customer
  8. Then you have to save the changes by clicking on the save button and then click on the close button to close the window
  9. At last, you have entered the needed information and then click on the ok button

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