The easiest way to Unapply a Credit in QuickBooks
QuickBooks is a one-stop solution for all the accounting needs of an organization. It fulfils the essential requirements of the business owners at one platform. Sometimes users have to Unapply a Credit in QuickBooks in case of an overpayment by the customers or when payments are recorded twice by users end. You must Unapply a Credit in QuickBooks to avoid future conflicts in the application. By unapplying a credit, you can settle down the overpaid amount quickly.
Are you confused about how to unapply a credit in QuickBooks? If yes, then stick to this article until the end to avoid common disturbances.
In this article, we will discuss how to Unapply a Credit in QuickBooks. In case you face any doubt, feel free to contact us at our toll-free number (844)-932-1139. Our pro advisers team are always available to guide your queries. You can also reach our website to grasp more information regarding QuickBooks.
Unapply a Credit in QuickBooks- In a nutshell
A QuickBooks credit memo is a document that helps to track payment reductions and customers payments. QuickBooks users need to Unapply a Credit in QuickBooks when the customer has done overpayment or when users have recorded any amount twice. This minor mistake can affect the whole financial account of the organization. Therefore, to eject the future disputes, users must Unapply a Credit in QuickBooks as soon as possible.
There are four different ways to Unapply a Credit in QuickBooks, which is mentioned below
- Create a credit and refund the overpaid amount.
- Apply the credit to the Invoice that the customer needs to pay.
- Create a Journal Entry and write off the amount.
- Apply the credit to an unpaid invoice.
However, QuickBooks automatically credit the overpaid amount to the customers. Still, we highly recommend you to contact your customers and ask their preference to settle the amount.
Before we proceed for any of the procedure, you must know that how to find Credit Memos in QuickBooks
Follow the steps given below carefully, to find the credit memos in QuickBooks
- Firstly, launch QuickBooks application.
- Go to the Report Tab and select Customers and Receivables.
- Now, choose the transaction list by the customers when the drop-down menu appears.
- Hit a click on the Customized Report option.
- Go to the Filters tab.
- After that, in the search area, you must type the transaction type.
- Hit a click on the transaction type.
- Now, select Credit memo using the drop-down menu.
- Finally, click on the Ok button.
- You will be able to see all the Credit Memos that you have in QuickBooks Desktop.
How to Unapply a Credit in QuickBooks
Read all the alternative method given below cautiously to avoid any hassle
(Quick Fix 1)
A quick way to Unapply a Credit from an invoice in QuickBooks
- Firstly, go to the Credit Memo list.
- Now, double-click the Invoice that you need to change.
- You must hit a click on Apply Credits.
- Further, from the Previously applied credits screen, make sure to remove the selected Credits.
- Click on Done button in the Apply Credit screen,
- Lastly, click the Save & Close button in the Invoice window.
(Quick Fix 2)
A quick way to Unapply a Credit from a bill in QuickBooks
- The first step is, go to the Vendor Credit List.
- Select the right vendor.
- To change the transaction type, select the Credit radio button.
- Click on Save & Close button and then choose the same Credit radio button again to change the transaction type.
- You must click on Yes button for the confirmation to change the transaction type.
(Quick Fix 3)
A quick way to delete credit from an invoice QuickBooks Online
- Find the Invoice you want to change and then open it.
- You must choose the link that includes the Invoice to the credit.
- After that, hit a click on Done button, when you see the Apply Credit screen.
- Lastly, hit Save and Close button, when the invoice window appears on your screen to get the task accomplished.
Hopefully, you must be able Unapply a Credit in QuickBooks by following the above procedures.
Ending Words
In this article, we have discussed how to “Unapply a Credit in QuickBooks”. We have also provided you with information about how to find credit memos in QuickBooks. For any questions or doubt, you can ping our QuickBooks experts at our toll-free number (844)-932-1139.
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