How to Refund Quickbooks Customer Credit

[@QbuniversityOrg]

www.QBUniversity.org/Masterclass - feel free to leave a comment or question here!

[@Trice4305]

Great video. Very straight forward. What’s the point of the refunds/credits icon on the Home Screen if it just creates a new memo/balance for the outstanding balance you’re trying to refund? Makes more sense to just use your method.

[@michaelslavin766]

Hi. Great videos. So I just received an overpayment from a client and left it as a credit. There will be other invoices in the very near future. How will I apply that credit to the next invoice ? I use desktop 2020. Thanks.

[@QbuniversityOrg]

When you receive payment from this customer on a future invoice there is a “set credits” button you can click to apply it

[@michaelslavin766]

@@QbuniversityOrg clarification: can I set the credits before sending the customer the next invoice ? Thanks

[@QbuniversityOrg]

Yes they set automatically so will show on the account. Unfortunately they don’t show on current invoices, only statements

[@DoubleMLLC]

Hello, love your classes!! I need to refund my customer a County "Sales Tax" I charged by accident. How do I credit a Liability account? Like to have it at 0

[@QbuniversityOrg]

Thanks Rich have you already paid the sales tax to the government or is it sitting in the sales tax liability account?

[@DoubleMLLC]

@@QbuniversityOrg Taxes are still sitting in the Liability account.

[@QbuniversityOrg]

@@DoubleMLLC easiest way is to go back to the original invoice and modify it to not include sales tax. Once you do this the sales tax will be a credit in their account. From there you can refund the overpayment

[@grahamtaylor2282]

How about small overpayments of a few cents. Customer is invoiced $1000.00 mistakedly pays $1000.10. Can the 10c be assigned to an "other income" account? (what's the procedure)

[@princessgucci1575]

Hi, how can I get a hold of you for month end closing

[@QbuniversityOrg]

I don’t do 1:1 consulting anymore. I do however answer questions via email and a private Facebook group when you join the QuickBooks University training program

[@kayannhowardmckay7540]

how do I get an old credit to 0 , I have tried petty cash, prior years? not current

[@DJ-jj7pu]

But then it puts in the payment side in the bank reconciliation.

[@charlest7027]

yeah but the credit memo still show in the open balance report

[@gabrielchristopher9363]

Good day sir, Please sir, i bought the following: (1) Laptop Ram (2) Canon Passport Printer machine (3) Computer VGA cables (4) Laptop casing to change the old casing of my business laptop. I want to write a cheque for these expenses. Is there anyone on the list above that i need to record as Fixed Asset or is it everything on the list that i will record under the Expense account? Thank you sir in anticipation.

[@QbuniversityOrg]

If each one is under $2,500 then I would record them as an expense

[@gabrielchristopher9363]

@@QbuniversityOrg Yes sir, each one is under $2,500. I was thinking the same but wanted to be extra sure from my mentor(YOU). Thank you sir.

[@QbuniversityOrg]

@@gabrielchristopher9363 you’re welcome!

[@osamiimahii6238]

How much you're certificate fees of QuickBooks?

[@QbuniversityOrg]

Fees to become a lifetime Member? Sign up for the Masterclass at www.qbuniversity.org/Masterclass and we give a 30% discount

[@jackiefenner103]

How to you pay a customer credit via credit card?

[@yussufbare4148]

❤

[@fergusonexteriors9615]

Dude I stopped watching this get to the point man geez

[@FrankieO-mj6kx]

Hi, I have been binge watching your videos trying to find my problem :( I am using QuickBooks desktop 2021, all my expenses are going to unclassified when I view my P/L report. The only change I've done was just started using Intuit merchant beginning this month. I spoke with QB support they said I need to upgrade. I would love your opinion/feedback :) Also, I have gained much more knowledge on using QB by watching your videos. I wish I can start QB all over.

[@QbuniversityOrg]

That’s odd? If you go into one of those individual expenses is an account chosen?

[@FrankieO-mj6kx]

@@QbuniversityOrg Yes, account is chosen. example: PG&E - account -utilities gas & electric - expense

[@QbuniversityOrg]

@@FrankieO-mj6kx and the PL shows uncategorized? Odd. What version are you using?

[@FrankieO-mj6kx]

@@QbuniversityOrg I'm using 2021 desktop. If I run a regular P/L my expenses are there too. But when I run a P/L unclassified my expenses are there too. Would they show up on both? Usually when a run unclassified P/L there may be a few I need to add an account too.