It is possible that you might get overpaid by a customer or payment might get recorded twice to an invoice. This creates the need to unapply a credit in QuickBooks so as to settle the over-payment and avoid any future conflicts. QuickBooks automatically applies the credit to an overpaid invoice from a new customer, but it is recommended to have a word with your customer for the preferred settlement option for the payment. In this blog, we list down the steps to unapply a credit memo in QuickBooks.
Where are the Credit Memos in QuickBooks?
By following the steps given below, you can generate a credit memo report to make changes in the required credit memo.
In the QuickBooks, under the Report tab click on Customer and Receivables and select the Transaction List by Customers option.
Click on a customized report on the top left corner and go to the Filters tab
Enter Transaction Type in the Choose Filter Search box.
A drop-down menu under Transaction Type has the Credit Memo option.
Hit Ok to view the Credit memos in your QuickBooks.
Note: An overpaid invoice can be settled in QuickBooks by one of the following ways
Refund the amount by creating a credit
Create a Journal Entry to write off the amount
Apply the credit to the next invoice
Apply the credit to another unpaid invoice
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Unapply Credit from Bill in QuickBooks Desktop
Select the right vendor searching from the Vendor Credit list.
Change the transaction type by selecting a Credit radio button.
Once again select the Credit radio button to change the transaction type.
Finally hit on Yes for transaction change confirmation
Unapply a Credit in QuickBooks Invoice
Go to the Credit Memo list and double-click the invoice that you want to change.
Click on Apply Credits, after this remove the selected credits from the Previously Applied Credits screen.
Hit Done on the Apply Credit screen and then click on Save & Close on the Invoice window.
How to Remove a Credit from an Invoice in QuickBooks Online
Open the invoice that is required to be changed.
Select the link that is displayed with the invoice to the credit.
Now click on the option to delete the transaction that applies for the credit.
The steps given above will help you to Unapply a Credit in QuickBooks and in case you still fail to accomplish removing credit from the bill or invoice then call QuickBooks Customer support at 1.800.579.0391.
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