There are times when your customers accidentally overpay or record the payment twice to an invoice that creates the need to settle the over-payment. You can easily unapply a credit in QuickBooks by applying one of the four methods that QuickBooks provides to handle the overpaid amount. However, QuickBooks automatically apply the credit to an overpaid invoice from a new customer you might still need to contact your customer for the preferred option to settle the overpayment. Further, in this article, we have mentioned the step-by-step instructions to unapply a credit memo in QuickBooks, so follow the complete article for detailed info.
Need Help Applying Credit from an Invoice? Call QuickBooks Customer Service Number (844)-888-4666 and Get Immediate Help Correcting Credit Memos in QuickBooks
How to Find Credit Memos in QuickBooks?
Follow the steps given below to change the required credit memo by generating a credit memo report in QuickBooks Desktop:
- From under the Reports tab click Customer and Receivables and select Transaction List by Customers.
- Click Customize Report from the top and then go to the Filters tab.
- Type TransactionType in the Choose Filter Search box.
- Click Transaction Type and from the drop-down, select Credit Memo.
- Click OK at the bottom, and you can now view all the Credit Memos you have in QuickBooks.
IMPORTANT: Following are the ways you can settle an overpaid invoice in QuickBooks
- Refund the amount by creating a credit
- Create a Journal Entry to write off the amount
- Apply the credit to the next invoice
- Apply the credit to another unpaid invoice
Steps to Unapply Credit from a Bill in QuickBooks Desktop
- From the Vendor Credit list, select the right vendor.
- Now change the transaction type by selecting the Credit radio button and click Save and Close.
- Select the same Credit radio button once again to change the transaction type and click Yes for the confirmation to change the transaction type.
Steps to Unapply a Credit from an Invoice in QuickBooks Desktop
- Go to the Credit Memo list and double-click the invoice that you want to change.
- Click Apply Credits and remove the selected credits from the Previously Applied Credits screen.
- Click Done on the Apply Credit screen and then hit Save & Close on the Invoice window.
Steps to Remove a Credit from an Invoice in QuickBooks Online
- Open the invoice that needs to be changed.
- Select the link that is displayed with the invoice to the credit.
- Now select the option to delete the transaction that applies the credit.
Hopefully, this article has answered your questions on how to unapply a payment to an invoice in QuickBooks and incase if you are still unable to remove or unapply credit from a bill or invoice then you can reach us at our QuickBooks Helpline Number (844)-888-4666 for help.