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R K
April 2, 2024
Solved

Apply Customer credits to new invoices. CM and Delayed CM, I must be missing a step

  • April 2, 2024
  • 1 reply
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My client's customer paid our invoice (reimbursable)  and the vendor's invoice.  I created a CM.  This removed it from unapplied cash pymt income on the P&L.  I did some research and found that I should have created a "Delayed Credit" since my client was not going to send a refund.  I have a CM listed on transaction detail that I created using "delayed credit", and I turned on auto apply credits for this example.  The CM amount shows as a credit in the total due that the invoice $ was taken out.  However, when a new invoice is created it still shows as due. The client is also receiving the invoice directly that does not show the credit applied.  Plus, I do not see the CM being reduced on the transaction detail.  This is also a Project.  Is it because I created the delayed credit under the main Customer?    I must be missing a step.  Where am I going wrong?    

 

(my client only had 2 credits in 2023)

 

Thanks for your help.

Best answer by CharleneMaeF

Thanks for checking out the Community space, R K.

 

I would love to help you ensure the credits are applied to your new invoices, but I just need to know the exact process on how you tracked the credit memo, delayed credits and the new invoices. Can you share screenshots of all the transactions you've created. We can also view the entries linked in your projects by going to the Transactions tab. For visual reference, I've added a screenshot below:

 

On the Transactions tab, manually open each entries and take a snippets.

 

Looking forward to your reply. Have a good one!

1 reply

C
CharleneMaeFAnswer
April 2, 2024

Thanks for checking out the Community space, R K.

 

I would love to help you ensure the credits are applied to your new invoices, but I just need to know the exact process on how you tracked the credit memo, delayed credits and the new invoices. Can you share screenshots of all the transactions you've created. We can also view the entries linked in your projects by going to the Transactions tab. For visual reference, I've added a screenshot below:

 

On the Transactions tab, manually open each entries and take a snippets.

 

Looking forward to your reply. Have a good one!

R
R KAuthor
April 15, 2024

Sorry for the delay.  

 

After I read you initial reply, I went to the Client and verified the transactions.  I was able to find the issue this way.  The Delayed Credit was entered I used the Client name when it should have been the Client Project.

 

That's another question.  My client started using Projects the end of 2023 and before they signed up for Advanced.  (I manually moved the transactions to the Project).   The credit was before the client became a Project.   Most of the clients are not subaccounts but Projects.   When a "Company" has 2 or more projects, the invoices etc., show up under the Parent Company under "Clients".   In most cases the Client Name as the same as the Project (only the project shows up as "Client - project of".   This might be for a different section in the Community but why doesn't the transactions show up under both?

 

 

 

S
Shania_C
April 15, 2024

Thanks for getting back to the Community, @R K.

 

Regarding your concerns about applying customer credits to new invoices in QuickBooks Online (QBO), I'll be sharing some information.

 

For your first concern, I understand that you're facing an issue where the transactions are not showing up on the project account. This is because the transactions were added to the client's account instead of the respective project account. However, you can edit the credit transactions and assign them to the correct account for that project.

 

Secondly, please note that there are two existing accounts: the client's account and the client's project that you previously created. In order to move forward, you will need to edit the existing account and set up or create a new project account. Once the new account is created, you can transfer all the previously delayed credit to the new project account. Additionally, you also have the option to mark the old client account as inactive.

Also, when you make a customer inactive, they will be hidden from all lists and menus. However, their transactions will still be available on reports. Moreover, if you delete a parent customer, all sub-customers will also be deleted. Therefore, if a project is attached to the customer, you cannot make them inactive. To make the customer inactive, you first need to delete any projects attached to them.

 

If you decided to make the client inactive, follow these steps:

 

1. Go to Sales and select Customers.

2. Find and select the customer's name to open their profile.

3. Click on the dropdown ▼ next to Edit.

4. Choose Make inactive, and then confirm by selecting Yes, make inactive.

 

Note: If you ever come across a transaction for an inactive customer, their name will display as "Name (deleted)".

 

Moreover, I'm adding this article as your reference to learn how to set up and manage projects in QuickBooks Online: Create and manage projects in QuickBooks Online

 

I'll be here to provide more assistance if you need to in handling your credit memos and projects in QuickBooks Online. Have a pleasant day. Keep Safe!

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