Then click the View Sales Tax liability report, and select on the amount under the Tax amount section. To proceed, double-check the credit memo you issued to the client and confirm that the sales tax amount is reflected accurately in the credit memo transaction. Since you didn't see the tax credited back, we can open and click review your tax return and verify the credit memo details. Typically, the amount should get back in the report. It's essential to ensure that the tax is correctly credited back in your monthly sales tax liability reports. Thank you for reaching out to us with your concern, assured, we take compliance and accurate financial reporting seriously, and I'm here to assist you in resolving this matter. Please mentioned my name in the comment section if you have follow-up questions about refunds. I'm glad to help you anytime. See the sample screenshot below.įeel free to visit our QuickBooks for Mac 2020 USer's Guide for your later reference. I've got this article for your QuickBooks Desktop version: Record a credit memo or refund in QuickBooks Desktop for Mac.Īlso, you can run the Transaction List by Customer Report to track all the transactions you've entered into the system. In the Available Credits section, mark the check you created, then click Done.From the Received from the drop-down, choose the Customer.Go to the Customer menu, then select Receive Payments.Let's now link the credit memo to the check to avoid getting open credit memos and unapplied refund checks. This ensures that QuickBooks will account for the credit and refund correctly. Leave Accounts Receivable as of the account in the detail area of the refund check.Open the credit memo you want to use for the refund.Go to Customers, then select Create Credit Memos/Refunds.After creating that, you'll need to create a refund check to complete the process. Let me share with you the correct way of recording a refund on QuickBooks Desktop.Ĭreating a Credit Memo for the refund is the most reliable path. Thank you for bringing this to our attention so that we can deal with this quickly, appreciate you for providing the detailed concern and the effort you've done in applying for the refund. Record a customer refund in QuickBooks Online.Create and apply credit memos or delayed credits in QuickBooks Online.Let me share these articles for more details on how to record a refund or apply a credit memo: Make sure to check the box of the unapplied Credit memo in the Credits section.Click the 1 payment made link under the PAID status. Let's open the invoice again and redo the process: I also checked the screenshots and it looks like the Credit Memo was not applied successfully as a payment to the original invoice. Otherwise, applying the credit memo as a payment to the original invoice will still leave a negative balance. If you want to keep the original payment in the record, you can directly create a refund receipt or check to refund the customer instead. This can be the reason why there's a negative balance in the customer's account. Have a great rest of the weekend.Ĭredit memo is usually created if you want to use a credit as a payment to a future invoice.Īs you mentioned and shown in the screenshot, the initial deposit is still recorded in your account. Should you have any other concerns or follow-up questions, you can always find me here. In case you'll need to track all the invoices that are due on a particular day, we can customize your Transaction Detail By Account report. Once done, you can now perform Receive payment using the credit memo that you've created. Click Save and close, then select Yes to confirm the changes.Go to the Customers tab, then select the appropriate customer.This way, we'll be able to close the invoice and zero out the customer's balance. We can open the credit memo and edit the amount. Please know that we only need to create a credit memo for the remaining balance of the invoice since you've already issued a refund for the initial deposit. The program prompts you that warning because you've entered the whole amount of the invoice in the credit memo. I'll help you in handling your customer balance.
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