How to unapply a credit in QuickBooks? Solutions Simply Answered.
Do you ever get stuck with how to unapply a credit in QuickBooks? It often happens when your customers mistakenly overpay or record the payment twice to an invoice or bill which creates the need to settle the overpayment in order to avoid any future conflicts. It is found that usually QuickBooks automatically applies the credit to an overpaid invoice from a new customer whenever a customer makes an overpayment. Or sometimes, you need to contact your customer for the preferred way to adjust the additional payment. Let’s move further to remove the customer or vendor credit in the QuickBooks application.
Know what is A Credit Memo in QuickBooks?A Credit memo is a commercial document in the QuickBooks software. It basically helps to track customer payments and any payment reductions that may occur due to unforeseen circumstances or factors. Memos created within the QuickBooks application are popped up in the accounts receivables tab and then it further displays under the customer center section. In short, credit memos are meant to provide a transparent view of the credit given to a customer.
Recommended read - Check out this blog to fix QuickBooks won't open.How to find Credit Memos in QuickBooks?Before unapplying a credit in QuickBooks Desktop, you are required to find credit memos in the QuickBooks application. To do so, you need to perform the below-listed steps.
To start off, log in to the QuickBooks application.
Under the Reports, tap on the Customers and Receivables option.
Now, choose the Transaction List by Customer from the drop-down menu.
You need to select the Customize Report from the top and then navigate to the Filters tab.
After that, enter the TransactionType in the Choose Filter Search box.
Click on the Transaction Type and hit Credit Memo from the drown-down list.
Finally, Press OK at the bottom, and you will be able to see all the Credit Memos in QuickBooks Desktop.
Recommended read - Check out this blog to fix the error QuickBooks has stopped workingHere’s a process to unapply a credit in QuickBooksDid you accidentally apply a credit to an invoice or bill? Or don’t you know
How to unapply a credit in QuickBooks? Don’t worry, here are the easy-to-follow steps to unapply a credit in QuickBooks Desktop.
Remove or Unapply a credit from a bill in QuickBooks Desktop.Firstly, look for the Vendor credit.
Now, choose the Bill radio option to change the transaction type for billing instead of credit.
Then, tap on Save & Close.
Under the resulting bill, select the Credit radio button to change the transaction back to credit, and then click on Save and Close again.
Once it is prompted about changing the transaction, press Yes.
Steps to Unapply a Credit memo from an Invoice in QuickBooks Desktop.In the beginning, hold and press Ctrl H keys simultaneously to display the transaction history.
Now, you need to click twice on the invoice and tap on Apply Credits.
On the Previously Applied Credits window, clear the selection for credit.
After this, press Done on the same window.
Finally, select Save and Close on the invoice.
Recommended read - Check out this blog to fix error QuickBooks event id 4.Closure!Hopefully, you are now able to learn how to unapply a credit in QuickBooks. However, if still it is challenging for you to handle the extra payment on your own then you’re highly recommended to get in touch with our QuickBooks technical error support team. They will assist you to eliminate your overpaid transactions with just a single click.
