Quickbooks Tip: How to Delete an Available Credit
Looking to delete an available credit in Quickbooks? The popular accounting software uses credit memos whenever a refund is made to a customer. If the customer returns a product, for instance, you may want to refund his or her money, in which case a memo is created. These credits will subsequently increase the amount of credit available on the customer’s account.
Normally, it’s best to leave the credit on the customer’s account. But what if you want to remove it? Maybe the credit was erroneous and should not have been applied to the customer, or perhaps that customer decided to keep the product instead of returning it. Regardless, you’ll want to eliminate the credit from your financial transactions. Allowing it to remain active on your account could throw off your billing, forcing you to reconcile later in an effort to find the missing transaction.
Quickbooks allows users to “void” credit memos, which erases the available credit from the respective customer’s account while still leaving a copy of the record in your transaction history.
To delete an available credit on a customer’s account, log into Quickbooks and choose the Customers menu > Customer Center > Customers & Jobs. Next, scroll through the list of customer associated with your account and choose the one for whom you would like to delete the available credit. Now open the credit memo that you would like to delete, click the “Edit” menu followed by “Void Credit Memo” or “Delete Credit Memo.” Confirm the changes and the credit will no longer be attached to that customer’s transactions.
Assuming you followed the steps outlined above, the available credit should no longer be found in the customer’s transactions. It’s always a good idea to go back and check, however. To do this, simply go to the Customers menu > Customer Center > Customers & Jobs, and look for the customer’s credit.
Did this tutorial work for you? Let us know in the comments section below!