First, are you processing a return for a client? Also, are you giving them the entire amount they paid, which is the $100 billable expense and $50 markup?
Thanks for getting back to us, can help you account for this credit in QuickBooks, but I will need a few information to make sure we're heading to the same direction. You'll also want to customize your invoices and reports to personalize their info and formats.įeel free to get back here in the Community if you've got more QuickBooks concerns.
Go to Settings ⚙, and then select Account and Settings.On the other hand, you can turn on the Automatically apply credits option in the Account and settings page to auto-apply these credits to a newly created invoice. Then, in the Payments column, enter how much credit your customer wants to use. In the Credits section, choose the credit memo from Step 1.Enter the customer’s name, and then fill out the required fields.Click + New, and then select Receive payment.To do it manually, here are the steps how: You can do it either manually or using the auto-apply credits feature. Once done, apply the amount to the created invoice. Enter all the info needed such as the customer name, the item, etc.Click the +New icon, and then choose Credit Memo under the Customers section.Below is a screenshot showing a Payment that connects a Credit Memo to an Invoice and Amount Credited field on Invoice shows the applied credit memo amount.I've got steps to ensure you can create a credit memo for a billable expense, have to simply create a credit memo by selecting the item manually, and then apply it to the invoice associated with a billable expense. So, to see where a Credit Memo is applied, click the Payment Transaction in the related list, then the Payment, and see what the Payment connects. So if a customer paid two invoices with a single check, you'd have a single Payment record and two Payment Transaction records connecting the two invoices to that single Payment.Ī Credit Memo is similar, except the Payment record will have two Payment Transactions (or more) connecting the Credit Memo to the Invoices it is applied to. And a Payment Transaction is how that Payment is allocated. QuickBooks Online has something called Payments (our Payments Tab) and Payment Transactions.Ī Payment could be a Check or a Credit Memo - it's a single amount. This can be a bit tricky, due to how QuickBooks Online provides us Data. Tracking Where a Credit Memo is Allocated The Credit Memo, which can be Allocated or Unallocated, is also displayed on the Account and QuickBooks Company (Customer) it is under, in the Breadwinner Totals section. The Credit Memo record has a section that shows information about that Credit Memo.ĭisplayed at Account and QuickBooks Company (Customer) Level The Type field will help you identify that this is a Credit Memo, as well as the abbreviation "CM-" Within an hour of creating the Credit Memo in QuickBooks Online, it will be visible in Salesforce.Ĭredit Memos, like Invoices and Sales Receipts, are found on the Invoices tab. This is considered a financial activity and must be done in QuickBooks Online.
How Credit Memos (Credit Notes) work in QuickBooks Onlineīreadwinner brings in all Credit Memos to Salesforce automatically.įor security, Breadwinner does not allow your Salesforce Users to create Credit Memos.