At times when a customer receives a credit memo on the refund of a purchased product or store credit, it automatically gets recorded in their QuickBooks Accounts Receivable Register. This uplifts their credits. However, the users recognize this error and remove the credit memo. The deletion process works on both QuickBooks and its Online version. Users may prefer the Apply Credit method to delete the credit memo in the Intuit software. They may also use the Customer & Jobs option available for the same requirement.
We have explained more on how to delete a credit memo in QuickBooks and QuickBooks Online in this reading. Further, we have described the meaning of its deletion and the need to do so.
What does it Mean to Delete a Credit Memo in Quickbooks?
Credit memos are received by customers when they get a refund for a product or a store credit. The memos are entered in the Account Receivable Register of that specific customer in QB. This leads to the increase of the credits of that customer. Since this can result in an error, it is preferred to delete credit memos in QuickBooks.
What is the Need for Removing a Credit Memo in QB?
There may be certain situations where a user might want to clear a credit memo in the accounting software, QuickBooks. Receiving an incorrect credit memo is one such situation. To know more of them, please read the following:
- When a refund is received by the customer, it gets registered in the software. This piles up the credit on the account of the customer.
- Deleting the memo, you can decrease your credit mentioned in the registers.
- The credit memo may have been created by mistake or incorrectly made in the software.
How Do I Delete a Credit Memo in QuickBooks?
To clear credit memos in QuickBooks, users may go by the Apply Credit option. After finding it, they can remove a selected memo. You may also avail of the Customers & Jobs option present in the software. You can then make a move to the Edit bar to execute its use for the deletion.
The steps shown below will help you exercise the use of these options and let you know how to delete credit memos in QuickBooks.
Method 1: By Using Apply Credit
For understanding how to delete a credit memo in QuickBooks, users need to initially understand the Apply Credit option. Start the process by visiting QB. Then you can push the Ctrl key along with the H key on the keyboard to look at the history of the Memo. Find the invoice that is to be deleted and double-click on the same.
Keep scrolling to know about the rest of the QuickBooks credit memo deletion procedure:
- Visit “QuickBooks”.
- Press the “Ctrl” key + “H” key on your keyboard.
- See the history of “Credit Memo”.
- Look for the invoice that you want to clear.
- Then you have to double-click the selected memo.
- Tap on the “Apply Credit” button.
- Also, remove the current credit choice in the “Previously Applied Credits” homepage.
- Select “Done”.
- Pick the “Save” button.
- Close the window so that the chosen “Credit Memo” gets deleted/cleared
- Press the option of “Save”.
Tip: Certain credit memos may be required in the QB software. Avoid deleting any memo without checking. Additionally, please be careful in selecting the right memo for clearing.
Method 2: Through Customers & Jobs Option
A user of QuickBooks can remove the credit memo by going through the Customer & Jobs option. You can find this option by tapping on Customer. A drop-down menu will appear and from here, you can select the Customer Center to delete credit memos in QuickBooks. Press the Customers & Jobs option now. Further, opt for the particular Customer and continue with the removal of the memo.
- Open your “QB” account.
- From the menu, select “Customer”.
- Opt for “Customer Center” among the “Customer” drop-down options.
- Tap on “Customers & Jobs”.
- Then choose the required customer.
- Next, move to the Credit Memo that you want to delete.
- Press the “Edit” button in the menu.
- Pick “Void Credit Memo” amid the “Edit” drop-down menu.
- Hit “Confirm”.
Now, the selected credit memo for a specific customer will be erased from QuickBooks. Should you need to get this memo back due to any reason, you may create it afresh.
How to Delete a Credit Memo in QuickBooks Online?
QuickBooks Online offers its users the option to remove/delete a credit memo within minutes due to the direct Delete Credit Memo option available. First and foremost, open your QBO account. Now, continue by selecting the Edit option available in the window. You will find a drop-down list appearing on the screen. Amid the existing options, pick the Void Credit Memo or Delete Credit Memo option.
Reading the procedure below will help you further see how to delete a credit memo in QuickBooks Online.
- Go to the “Edit” button present in “QBO”.
- Let the drop-down menu open.
- Click on one of these:
- “Delete Credit Memo”
- “Void Credit Memo”
- Next, you will be required to create the right “Credit Memo”.
- After creating it, wait for some time.
While you wait, you will notice a process in which the incorrect memo is recreated into an accurate one. Let the process be over. Afterward, you will find that the desired memo has been wiped.
Deleting a credit memo in QuickBooks helps users to not increase their credits in the registers. Focusing on this concern, the blog explained what deleting the credit memo means in depth. We also showed why there is a need to delete it. Moreover, this page shared different methods to delete credit memos in QuickBooks and QBO.
We suggest that our readers see our other blogs. Among all, we recommend going through how to record a Loan Payment in QuickBooks. Also, what is Adjusted Service Date in QuickBooks and how its calculation is done has been covered by us. Tap here to see.