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Record a Credit Memo or Refund in QuickBooks Desktop

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Record a credit memo or refund in QuickBooks Desktop – QuickBooks is best accounting tool for managing company data in an organized way. Below you can check steps to Record a credit memo or refund in QuickBooks Desktop. 

If a customer returns purchased items they already paid for, enter a credit memo. If the customer overpays an invoice, issue a refund check. Follow the steps appropriate for you for an accurate representation to Record a credit memo or refund in QuickBooks Desktop

Record a credit memo or refund in QuickBooks Desktop

Check out the steps to Record a credit memo or refund in QuickBooks Desktop. Check out the steps below:

Create a credit memo for returned items

  1. From the Customers menu, click on  Create Credit Memos/Refunds.
  2. From the Customer: Job drop-down, click on the appropriate Customer.
  3. You have to Enter the returned items in the line item area.
  4. Click on Save & Close.
  5. On the Available Credit window, choose one of the following:
    • Retain as an available credit: You can use this credit as a payment for another transaction.QuickBooks enters a negative amount in your A/R register for the credit memo.
    • Give a refund: You can issue the refund as cash, a check, or a credit card refund.
    • Apply to an invoice:  where you can select an invoice to which you want to apply for this credit, QuickBooks opens the Apply Credit to Invoices window.
  6. Click on  OK

Issue a refund check for an overpayment

Option 1: Through the Receive Payments window

  1. Go to the overpayment transaction
  2. go to the Customers menu, then click on Receive Payments.
  3. under the Overpayment section, At the lower left of the Receive Payments window, select Refund the amount to the customer.
  4. Click on Select Save & Close.
  5. Fill in the necessary information, On the Issue a Refund window, then select OK.

Option 2: Through the Write Checks window

  1. Go to the Banking menu, then click on Write Checks.
  2. Fill in the information needed in the check.
    1. choose the appropriate Customer, From the Pay to the order of drop-down,
    2. in the $ field, Type the overpayment
    3. Go to the Expenses tab.
    4. From the Account drop-down, choose Accounts Receivable.
    5. From the Customer:Job drop-down, click on the Customer.
    6. Click on  Save & Close.
  3. Link the check to the overpayment.
    1. Select Receive Payments, From the Customers menu. 
    2. Select the Customer, From the Received from a drop-down,
    3. Click on Discounts And Credits.
    4. From the Available Credits section, mark the check you created, then click on  Done.
    5. Click on Save & Close.

We hope that by following above steps you will be able to Record a credit memo or refund in QuickBooks Desktop. Although not part of your usual A/R workflow, credit or refund is still one of the most important customer-related transactions in QuickBooks Desktop.

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