QuickBooks is the most acceptable accounting application that helps to manage business accountancy of small and medium-size business organization. Sometimes while doing accounting operations, customers overpay an invoice that creates hassle in the accounting data. Therefore in this situation, over payment needs to be settled. To settle the amount, you can Unapply a Credit in QuickBooks. Once you Unapply a Credit in QuickBooks, it will drop the extra amount paid in QuickBooks.
In this blog, we will discuss the procedure to Unapply a Credit in QuickBooks. For any doubt or query, youcan contact our pro advisor team at our toll free number 1-855-856-0042. You can also reach our website to grasp more information regarding QuickBooks.
Unapply a Credit in QuickBooks (In simple terms)
You must Unapply a Credit in QuickBooks when sometimes customers accidentally overpay you or from your end payment has recorded twice. Well, QuickBooks automatically applies the credit to an overpaid invoice, but we highly recommend you to have a conversation with your customer for the favorable settlement option.
There are four different ways to Unapply a Credit in QB.
- By creating Journal Entry, write off the amount.
- You must apply the credit to the invoice that the customer needs to pay.
- Refund the overpaid amount by creating the credit.
- Apply the credit to an unpaid invoice.
You can contact your customer and discuss all the four methods with them. Let them choose the option as per their suitability.
Step by Step guide to Unapply a Credit from a Bill in QuickBooks.
Read the steps given below cautiously to avoid any hindrances.
- Go to the Vendor Credit List and select the right vendor.
- Now, select Credit Radio Button to change the transaction type.
- Hit a click on Save & Close.
- Again, choose the same Credit Radio Button to change the transaction type.
- Finally, hit a click on Yes button for the confirmation to change the transaction type.
Step by Step guide to Unapply a Credit from an Invoice in QB.
- Firstly, go to the Credit Memo list.
- Now, double-click the invoice that you need to change.
- Hit a click on Apply Credits and from the Previously applied Credits Screen, make sure to remove the selected Credits.
- Further, on the Apply Credit screen, click on Done button.
- Finally, hit Save & Close on the Invoice window.
Also read this blog: QuickBooks Error 181016: Read the 100% Effective Solutions Here
Want to reach us?
In the above blog, we have discussed the procedure to Unapply a Credit in QuickBooks. In case you face any doubt while going through the process then feel free to communicate with us at our toll-free number (1-855-856-0042) to take experts advice.
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