Thanks for joining this thread, @andrewcoplon.

Credit Memo is used for the overpayment of the customer which is greater than the outstanding invoice. If you want to keep it, you'll have to create a deposit posting to the Accounts Receivable account.

1. On the Homepage, navigate to Record Deposits / Make Deposits.
2. In the Payments to Deposit window, select the payments you want to combine. Then OK.
3. In the Make Deposits window, pick the A/R account you want to put the deposit into from the Deposit to dropdown.
4. Check the deposit total. 
5. Enter the date you made the deposit at your bank.
6. When you're done, hit Save & Close.

If you want to refund it to your customer, you'll need to create a check. 

1. Go to the Banking menu and click Write Checks.
2. Under the Bank Account field, choose the account where the money will be taken from.
3. In the Pay to the Order of box, should be the name of the customer the check was issued for.
4. Enter the Date and Amount.
5. Hit Save & Close when done. 

Before doing changes in your company file, we recommend always create a backup copy so you can always restore your data. 

Here's a great source where you can find articles that can help you in managing your books in QuickBooks, please visit our QBDT help articles page. This includes topics such as reconciliation, track income, and expenses, run reports, etc.

Keep in touch with me if you have further concerns about creating a credit memo in QuickBooks. I'll be around whenever you need further assistance. Take care always.