Keeping track of your customers' payments is relevant in handling your business in QuickBooks Online (QBO). Connect with me again by clicking the Reply button below. I want to hear back from you about this, as I want to make sure this is resolved. The following links will help you with the process: Otherwise, if you are the one who receive a credit from a vendor, you can simply use a vendor credit for it. When you apply the credit memo and journal entry to the invoice, choose both transactions in the Credits section. See these sample screenshots of the series of process for reference: In the meantime, check out this workaround, where you can process the credit memo for $100 and add the $50 for mark up as a journal entry to clear it in the Profit and Loss report. 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. Choose the Advanced tab, and then tap Edit ✎ in the Automation section.įor more details, please check out this resource: How to create and apply credit memos.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.Have a good one and take care.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. If you have any other concerns about running reports to see your credit memos, please don't hesitate to post again here. For the detailed guide, check out this link: Set up and modify Scheduled Reports. In case you need to send reports regularly, you can create Scheduled Reports to automate this task. įor reference in customizing your report, feel free to check this article: Customize reports in QuickBooks Desktop. Add additional columns or filters based on your desired info and click OK.Then, go to the Filters tab and search for Transaction Type.
In the Display tab, set the correct date range for the fiscal year.Once opened, click the Customize Report button.Then, hover over the Sales section and choose Sales by Rep Detail.Open your QBDT account and select the Reports menu.This will display the full name of the sales rep and filter the data to show only the credit memos. To help you achieve this, you can pull up the Sales by Rep Detail report.
Thanks for sharing the steps you've performed as well as the outcome. Hi there, I'm here to help you run a report showing the list of credit memos along with the sales rep in QuickBooks Desktop (QBDT).