How To Apply Credit To an Invoice

credit-crunch-1Still trying to figure out how to apply credit to an invoice in your Quickbooks account? Although this is somewhat of a rare occurrence, clients may accidentally overpay their bill. When this happens, you’ll want to go back and credit the respective invoice so the overpayment will factor into their next bill. Quibkooks makes this process quick and easy; the entire process of crediting a client’s invoice should only take a couple minutes. Check below for our step-by-step walkthrough on how to credit an invoice in Quickbooks.

The truth is that most people will never find themselves in a position where they need to apply invoice credits. However, the one time it does in fact come around, you want to be fully prepared to deal with it. Instead of blindly starring at the computer for hours on end, read through this quick guide to learn the ropes of invoice crediting.

After logging into your Quickbooks account, you’ll need to apply the credit to the customer. This will essentially give the customer credit for their overpayment or adjustment. It’s important to note, however, that this is not the same as applying it to the invoice. After giving the customer credit, you will then need to go back and connect it to the respective invoice. Only then will the transaction be complete and accurate.

To apply credit to an invoice, click on the “Customers” tab followed by “Receive Payments.” Next, you’ll want to scroll through the invoices and click on the one that requires adjusting.  Click on the “Discounts and Credits” button at the top of the screen to make the necessary adjustments on the invoice. You should see the amount that was added during the previous step. If not, you can modify the “Amount To Use” column with the correct amount. Double check the amount to ensure it’s correct before proceeding.

After applying the credit to your client’s invoice, you can then save the changes and close out of Quickbooks. Whenever you need to apply invoice credits in the future, refer back to this page for more guidance. The method listed here is the fastest and most efficient way to accomplish this task. Whether you are using a current or older version of Quickbooks, the method for applying invoice credits remains the same. Simply locate the customer and invoice before adjusting the “Discounts and Credits.”

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