![]() ![]() In the step-by-step video tutorial below, you’ll find out how to create a credit memo in QuickBooks to make financial management easier. And while its one of your most important financial responsibilities, maintaining accurate records of transactions like credit memos is daunting - especially if you’re using QuickBooks for the first time. I'm always around to lend a hand.As a small business owner, managing finances is no small task. Please let me know if you have any questions or concerns. Rebuild and Verify Company File in QuickBooks Desktop.You can use the help article I've included below for additional details about this process. ![]() Our utilities will scan the file and repair the damage. In this case, I recommend using our Rebuild and Verify Utilities. ![]() Should your accountant have issues locating the discrepancy, it could be that your company file has some data integrity issues. You can find one here in our Resource Center. If you don't have an accountant, don't sweat it. Your accountant can review your account and locate the discrepancy, then take any necessary actions to correct it. If you continue having issues locating the transaction causing the negative balance, I recommend contacting your accounting professional. Now you can see all the transactions associated with the vendor. At the bottom of the screen, tap on the Run Reports option and choose View as Report.Open the Vendor menu at the top of the screen.I've included some steps to run the report below. This way, you can view all transactions associated with this vendor. Since this isn't a credit, I recommend using a transaction report for your vendor. Let us know in this forum if you have additional questions or other QuickBooks concerns. This report can be found from the steps provided above, you can select the Customers & Receivables dropdown from the Reports menu.Īdditionally, I've attached this reference to help you add specific data to your reports: Customize reports in QuickBooks Desktop. If you also want to view the credits applied to the invoices and your customer's opening balances, you can run the Customer Balance Detail report. To view them, you can click the transaction itself. You'll now see all the credits created and to which transaction it is applied. Under Columns, search and select Credit and Open Balance in the search field.Select Vendors & Payables and choose Vendor Balance Detail report.In your QuickBooks Desktop company file, go to Reports from the menu bar.You can run the Vendor Balance Detail report to view detailed information on the credits created and know their balances for every transaction. Let's work together to ensure you're able to track what and when your available credit transactions came from. Keep me posted if you have follow-up questions and I'd be glad to help. Just make sure not to missed any steps and filter the report correctly.Īfter following the steps outlined in this article, you're able to see the available credit of your vendors and customers. The Open Balance column is where you can see the unapplied or remaining credit of your clients. Don't forget to click OK after performing each letter above.Select Payment, Credit Memo, Bill Credit, Bill Payment for the Transaction Type. Select Accounts Payable and Receivable for Account.Ĭ. On the Display tab, add the Open Balance column, then remove other columns when necessary.Ī.The Modify Report: custom Transaction Detail Report opens automatically.Go to Reports, select Custom Reports, then Transaction Detail.Let me guide you through the steps on how to accomplish this: You're looking at the exact article, that's left to do is to make sure we did not miss any of the steps outlined in the article.
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