Unapplying a credit in QuickBooks is always a hot topic among the business owners who use QuickBooks for billing and invoicing purposes. QuickBooks enables users to create custom made invoices and send it to the customers. However, when a customer makes overpayment for an invoice, QuickBooks automatically adjust the overpayment as a credit in QuickBooks. If you want to unapply a credit in QuickBooks, there are several ways to get it done. In this post, we will discuss how to unapply a credit in QuickBooks without getting any technical obstructions.
“Wondering how do I unapply a credit in QuickBooks? Dial QuickBooks Support Number 1-(855)-542-9309 and discuss your needs with the experts”
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Procedure to Unapply a Credit in QuickBooks
When you adjust an overpayment in QuickBooks as credit, you can unapply a credit in QuickBooks Desktop in several ways. Before getting it done, you can discuss with your client about the most suitable way to perform this task. First of all, you need to find credit memos in the QuickBooks application. To get it done, follow the below-given steps:
How to Find Credit Memos in QuickBooks?
Below are the steps that can help you in finding the credit memo in QuickBooks that you will need to unapply a credit in QuickBooks:
- Open QuickBooks and select Customers and Receivables located underneath the Report tab.
- Now you need to select Transaction List by Customer from the drop-down list.
- Next, hit on the Customize Report option and then move to the Filters tab.
- Insert the Transaction Type in the search field to proceed further.
- Hit Transaction Type and select Credit Memo from the drown-down list.
- Click OK, and you may now see all the Credit Memos in QuickBooks Desktop.
Different Ways to Unapply a Credit in QB Desktop
Now that you have seen the steps to find all credit memo that you have in QuickBooks Desktop, below are the ways to unapply a credit in QB:
- You can create credit in QuickBooks to refund the overpaid amount.
- Alternatively, you may also create a journal entry to write off the overpaid amount.
- Besides, you may apply the credit to an unpaid invoice.
- Apply the credit to the next invoice that the customer needs to pay.
How to Unapply a Credit in QB Invoice?
To unapply a credit in QuickBooks invoice, you need to perform the below-given procedure carefully:
- Open QuickBooks and go to the Credit Memo list.
- Locate and double-click the invoice you need to change.
- Next, hit Apply Credit and remove the selected credits from the Previously Applied Credits screen.
- After that, on Apply Credit screen, click Done.
- In the end, click Save & Close to unapply a credit in quick books invoice.
How to Unapply Credit from Bill in QuickBooks Desktop?
To unapply a credit in QB from the bills, follow the below-given method carefully:
- Move to the Vendor Credit list and then choose your vendor.
- Next, mark the radio button against Credit to change the transaction type.
- Click Save and Close to apply the changes.
- Again, mark the radio button to change the transaction type and hit Yes.
These steps can help you on how to unapply a credit in QuickBooks Desktop from the bills with absolute ease.
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Need Further Assistance from QB Experts?
The steps discussed in this post can help you on how to cancel credit in QuickBooks. If you need more help, reach out to QuickBooks Support Team at 1-(855)-542-9309. On connecting, you can unapply a credit in QuickBooks without getting any technical obstacles.
Erica Watson is writing about accounting and bookkeeping for over 7+ years, making even the difficult technical topics easy to understand. She is skilled at creating content about popular accounting and tax softwares such as QuickBooks, Sage, Xero, Quicken, etc. Erica’s knowledge of such softwares allows her to create articles and guides that are both informative and easy to follow. Her writing builds trust with readers, thanks to her ability to explain things clearly while showing a real understanding of the industry.