Thanks for actively responding, @marcdy. As mentioned by my peer @RenjolynC in her reply, there are three ways to handle the credit memo after creating it.
You can either retain it as available credit, give a refund, or apply to an invoice. If you opt to give a refund, you'll need to go to the receive payment section to link the transaction. Then, issue the refund in cash or a check.
Here's how to give your customer a refund:
- Select the Customers menu, then Credit Memos/Refunds.
- In the Customer:Job dropdown, select the customer you need to refund, then enter the products and services you'll need to refund.
- Click Save & Close to open the Available Credit window.
- Select Give a refund and then OK.
- In the Issue a Refund window, select how you want to refund the transaction from the Issue this refund via field. If you select Cash or Check, select the account you're paying for the refund from, then select OK.
Once done, QuickBooks processes the refund and handles all the accounting for you.
However, if you opt to use this credit as payment for another transaction, you can give credit for future payments by selecting Retain as an available credit option, then OK.
Here's an article to help you learn about voiding or refunding customer payments should you need to in the future.
Come again and post some more. I'm always around to lend a hand. Take care!
