If you are a business owner manage your business accounting operations using QuickBooks application, it is important for you to learn how to unapply a credit in QuickBooks Desktop. QuickBooks helps its users to create and send invoices to the customers. However, if a customer makes overpayment for an invoice, QuickBooks automatically adjust this extra amount as a credit to the customers. If you want to unapply a credit in QuickBooks Desktop, the application has several ways to get this task done. In this article, we will see how to unapply a credit in QuickBooks Desktop application is various conditions.
Method To Unapply Credit In QuickBooks
When QuickBooks automatically adjusts an overpaid invoice from a customer, you can unapply credit in QuickBooks using different ways. You can do it in agreement with your customer, whichever way suits him the most. To get started with the procedure, you need to find credit memos in the first place. Below are some handy steps on how to unapply a credit in QuickBooks Desktop:
To Find Credit Memos in QuickBooks:
- First of all, open the QuickBooks application.
- Next, you need to select Customers and Receivables from under the Report tab.
- When a drop-down menu appears, select the Transaction List by Customer.
- After that, click on the Customize Report optionand then go to the Filters tab.
- Now in the search area, type, Transaction Type to proceed further.
- Click on the Transaction Type and then select Credit Memo using the drop-down menu.
- Click OK, and you are now able to see all Credit Memos that you have in QuickBooks Desktop.
What Are The Possible Ways To Unapply A Credit In QuickBooks Desktop?
After finding the credit memos in QuickBooks, you can choose any of the below-given methods to answer how to unapply a credit in QuickBooks Desktop:
- Refund the overpaid amount by creating credit in QuickBooks.
- Creating a Journal Entry to write off the overpaid amount.
- Apply the credit to an invoice, which is not paid yet.
- Apply the credit to the next invoice that the customer needs to pay.
In the next section of this article, we will see how to unapply a credit in QuickBooks Desktop using the above-listed methods in details.
How to Unapply Credit from Bill in QuickBooks Desktop?
If you want to unapply a credit from a bill in QuickBooks, then you need to perform the below-given steps fail-safely:
- First of all, go to the Vendor Credit list and then choose the right vendor.
- After that, mark the radio button for Credit to change the transaction type and then hit Save and Close to apply the changes you have made.
- Again, mark the radio button to change the transaction type and then click Yes to confirm.
The above-listed steps describe how to unapply credit in QuickBooks Desktop from bills.
How to Unapply a Credit in QuickBooks Invoice?
If you want to unapply a credit in QuickBooks invoice, then perform the below-stated steps:
- Navigate to the Credit Memo list and double-click the invoice you need to change.
- Next, click on Apply Credit and remove the selected credits from the Previously Applied Credits screen.
- When the Apply Credit screen appears, click Done.
- Click Save & Close to complete the procedure.
These steps also explain the answer to the query “how to unapply a credit in QuickBooks Desktop”.
Delete Credit From An Invoice In QuickBooks Online
- The first and foremost requirement in this procedure is to find the invoice you want to change.
- Open the invoice on finding.
- Next, you need to select the link with the invoice.
- After that, click Done on the Apply Credit screen.
- Finally, when the invoice window appears, click Save and Change to finish the task.
Acquire Expert Assistance If Required!
The steps explained in this article answers one of the frequently asked questions on how to unapply a credit in QuickBooks Desktop. If you are finding it difficult and wondering how do I unapply a credit in QuickBooks, give us a call on our QuickBooks error helpline number. Our experts will explain how to unapply a credit in QuickBooks Desktop in simple steps.