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Enter a credit memo or record a return

Use the Create Credit Memos/Refunds window to issue a credit memo or refund check when a customer returns items for which you have already recorded an invoice, customer payment, or sales receipt.

To do this task

  1. Go to the Customers menu and click Create Credit Memos/Refunds. Shortcut

  2. In the Customer:Job field, choose the customer and job for which you are creating the credit memo or refund check.

    Important: If you have created more than one job for the customer, be sure to assign the credit memo to the correct job. You can apply the credit memo only to the same job for which it was created.

  3. Select a template.

    You can select a template when you're in the Templates list or you can change the template when you're in the form.

    You may find it easier to choose a different template in the form window, and to select a template to customize in the Templates list—but it's your choice which one you'd rather use.

    Before you begin, we highly recommend that you download predesigned templates from the QuickBooks Template Gallery.

    From the Templates list

    To do this task

    1. Go to the Lists menu and click Templates.

    2. Click the Type column heading to find all templates with the same form type.

      How do I know which template to use?

      Since it's easier to change an existing template than to start from scratch, choose the template that's closest to how you want your form to look. You can choose a different template at any time, but you'll have to reenter the information in the form when you do so.

      Although you can customize any template, starting with a template that's close to the way you want your form to look makes it a lot easier to customize your forms.

    3. Single-click—not double-click—the template to view and then click the Open Form button at the bottom of the list.

      Templates menu button

    4. See how the form looks onscreen and in print preview to decide if this is the template you want to use.

      Look at the form onscreen and then do a print preview to see how it looks when it's printed. Since what prints on the form can be (and probably is) different from what you see onscreen when you fill out the form, consider both uses.

      To do this task

      1. Open the form onscreen to see how the template affects what you see in the form window.

        Things to think about
        • Does it have all or most of the fields you need when you fill out the form onscreen?

        • Does it have enough room for you to enter your line item descriptions?

        • If you want to print shipping labels, does it have a Ship To box?

      2. Click the Print Preview button at the top right side of the form to see how the printed form will look. (What you see onscreen is probably different from what you see when the form is printed.)

        Templates list in form window

        Things to think about
        • Does it show enough (or not too much) detail for your customers or vendors?

        • Does it have a special section, like a tear-off (remittance) section or a signature line?

        • Does it have all the information your customers or vendors need when they receive the form?

        • Will you be printing the form on an Intuit preprinted form? If so, make sure there are no lines or borders around any of the fields.

    5. Continue selecting and viewing templates until you find the one you want to use.

      If you don't see one you want, you can download more for free from the QuickBooks Template Gallery.

    From a form

    To do this task

    1. (Optional but recommended) Download predesigned templates from the QuickBooks Template Gallery.

    2. Open the form to use. For example, to open the invoice form, click Invoices in the Customers section on the Home page.

      When you open the form, the template that was last used for that form type is the one that opens now. You can change the template in the form window.

    3. Click the drop-down arrow on the upper right side of the form and select the template you want to use.

      Templates list in form window

    4. Click Print Preview to see how the form will look when printed.

    5. Continue selecting and viewing templates until you find the one you want.

      If you don't see one you want, you can download more for free from the QuickBooks Template Gallery.

    6. Once you've found the template you want to use:

      • If you don't want to make any changes to the template, you can start using the form now.

      • To edit the template, click the Customize button in the upper right of the form to customize it.

        Note: If you receive a message about editing a predefined template, click Cancel and select a different template to edit. Predefined templates have limited options for customization.

      • To create a new customized form that's based on this template, duplicate the form and then customize it.

    See also

  4. Click the Account drop-down list and choose which Accounts Receivable account to use.

    This field appears only when you have more than one accounts receivable account (most companies have only one).

  5. Enter the items being returned in the line item area.

    Use the same information that was on the original invoice or billing statement. QuickBooks decreases the income accounts of the invoice items by the amount of the return.

  6. (Optional) Assign a class to this credit memo.

    In QuickBooks, you can create classes that you assign to transactions. This lets you track account balances by department, business office or location, separate properties you own, or any other meaningful breakdown of your business.

    Many business owners have certain segments of their business that they want to keep a close eye on. By using the class tracking feature, you can define these segments and track their associated account balances on invoices, bills, and other documents.

    Businesses with different departments or locations can use classes to report account balances for each department.

    For example, if you had a restaurant with three locations, you might create an Uptown, a Midtown, and a Downtown class for tracking account balances by location. A farmer might create a class for each enterprise.For example, Corn, Hogs, and Soybeans. At the end of an accounting period, the restaurant could create separate reports for each location. Likewise, the farmer could create separate reports for each enterprise.

    See also

  7. (Optional) In the Customer Message field click a message from the drop-down list, or enter a new message to your customer.

  8. (Optional) If your customer uses a currency different than your home currency, you can manually adjust the exchange rate if necessary.

    QuickBooks uses the most recent exchange rate from the Currency list for foreign transactions.

    Exchange rates can't be changed for home currency transactions. The exchange rate field on home currency names and accounts is disabled and always uses a value of 1.0.

  9. (Optional) Enter a memo for this transaction.

    The memo does not print on the credit memo, but it does appear in the Accounts Receivable register and in the customer register.

  10. (Optional) Print the credit memo.

    To print from the form window

    1. To print a single copy of the form, click Print on the form toolbar and then click Print.

    2. To access more print options in the form window, click the Print drop-down arrow and then click the print option.

      Print drop-down menu

      About Print options

      • Preview: Displays a preview of the current form before you print it. Not all forms have the Preview option.

      • Print: Prints the current form.

      • Print Batch: Allows you to print more than one form.

      • Print Packing Slips: Prints a packing slip based on the contents of the current form.

      • Print Shipping Label: Prints shipping labels. Only available if the Ship To field is selected for the template and the field is filled out.

        If you don't see the Ship To field on your form, you need to add it to the onscreen form:

        1. Click the Customize drop-down arrow at the top of the form, then click Additional Customization.

          Note: If you don't see the Customize drop-down arrow, you may need to resize or maximize the window.

        2. Click the Header tab and in the Ship to line select Screen for the ship-to information to appear onscreen as you fill out the form.

          To print the ship-to information on the form select Print on the Ship to line.

        3. Click OK.

        4. Enter the ship-to information on the form.

      • Print Envelope: Opens the Envelope Options window where you can select options for your envelopes. Make your selections and then click OK.

        Note: Some Print menus contain an option to Order Business Forms.

    To print from the Print Forms menu

    • To quickly print the current form, go to the File menu, choose Print, and then click Print.

    • To print more than one form, go the File menu, choose Print Forms, and then click the forms you want to print.

    See also

  11. Save the credit memo.

    • Click Save & Close to save the transaction and close the window.

    • Click Save & New to save the transaction and enter a new one.

    The Available Credit window opens, where you tell QuickBooks how to use this credit.

  12. Choose one of the following:

    • Retain as an available credit

      When you choose this option, QuickBooks enters a negative amount in your A/R register for the credit memo. Later, if you receive a payment for this customer, you can use this credit.

    • Give a refund

      When you choose this option, QuickBooks opens the Issue a Refund window. Here, you can issue the refund as cash, a check, a credit card refund.

    • Apply to an invoice

      When you choose this option, QuickBooks opens the Apply Credit to Invoices window, where you can select an invoice to which you want to apply this credit.

See also

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