Do remember that you can also edit transactions easily in Quickbooks, so this could be a better early step if, for example, you need to change the date of an invoice.Proceed with caution, particularly with deleting transactions, as this will completely remove a transaction from the system.Delete should only be used for data entry mistakes, where the customer does not need to know about it.Youd then need to re-apply the payment by clicking on it and ticking the relevant invoice to apply it to.
And if you are the only user, it is also worth ignoring the delete button. The reason for this is that no record is kept which means you may not remember the mistake that has been made later on which could be very relevant to the customers account. You create a credit note to keep track of this until you have paid it and to let the customer know that any amount they owe you has been reduced. Creating a credit note records it on the Quickbooks system and applies the value to the customers account. You can then repay the money or offset it against an invoice. ![]() Amount, Payment Method and Ref: (optional) Memo: (optional) Deposit To: Put the business account any refund would be deposited to if applied to the credit note. It will keep track of credit you wish to apply to a customers account in the future, but it wont affect their balance or account until you apply it to a future invoice. You dont want to apply the credit to their account immediately as you want to ensure they return the goods first. This will apply the credit to the invoice and add in a new line on the invoice for the credited amount. This should happen when you give a customer a refund with cash, cheque or bank transfer. If you are applying credit to their account, then use a credit note instead. For example, the invoice can be reduced to zero or a discounted amount. To do this, find the box saying amount GBP in the table and change it to zero or the amount left after the discount. ![]() Note: If you have already refunded the person and it is showing in your bank feed, you can create the cheque directly from the bank feed by choosing cheque, putting in the customer name and setting the account to debtors, with VAT set to No VAT ). Fill in the amount inclusive of VAT, but make sure the VAT column is set to No VAT. Gear - Accounts and Settings - Advanced.). Before you save, check the amount to credit subtotal is accurate. As Quickbooks Advanced Certified Pro-Advisors, wed love to help you get the most from your Quickbooks, so give us a call today on 0330 111 66 33 and find out how we can help you.
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December 2020
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