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What Is A Credit Memo In Quickbooks? - A Complete Guide - Computers - Nairaland

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What Is A Credit Memo In Quickbooks? - A Complete Guide by lily002: 9:53am On Jun 29
Keeping track of your business finances is an important step to become successful. To stay updated with the financial figures, QuickBooks offers a feature named credit memo. A credit memo in QB is a document issued by the seller for services or goods. It helps you to keep track of the sale, the return of payments and goods. After knowing what is a credit memo in QuickBooks let’s understand its process.
How to Create a Credit Memo in QuickBooks software?
These steps are given to create a QuickBooks credit memo in the accounting software:
1.) First, you have to click on refunds and then credits option.
2.) Now, click on the customer option.
3.) You need to fill the credit memo form.
4.) Choose the correct channels through which the credit memo needs to be distributed.
5.) Now, your job is to verify the amount on the credit memo.
6.) Click on save and then close.
7.) You will receive a notification if there is a balance in the customer’s account.
8.) Check the open balance report. You can also check the customer’s transaction history to know whether the credit memo is added correctly.
Note: Credit memos QuickBooks will show in case a customer no longer owes the money or when a seller owes customer money.
If you are seeking more information on what is a credit memo in QuickBooks, dial the Toll- Free QuickBooks Support Phone Number +1 888-660-0582.

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