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FMW
February 4, 2021
Solved

Customer Credits v Discounts

  • February 4, 2021
  • 1 reply
  • 0 views

Good afternoon,

   Right w, I have CREDITS in my item list.   We sell product by the ton.  There are instances when I have invoiced customer, and then my boss lowers the $/ton. 

What I do is create a credit memo and apply it to the invoice.  However, when reporting, this also shows as a negative quantity.  For instance, Customer A purchased 100 tons asphalt and I invoiced at $20/ton.

The sales report reflects both the quantity and $.

Then boss says only charge them $15.00 a ton.  So I created a credit memo with a line item as follows:

Item:  Gravel.  Quantity:  1,. then I enter the whole dollar amount, in this example, $500.00 credit memo.

That is fine, except now the sales report shows a -1 in the quantity column and is therefore, subcontracted from the total.  That is inaccurate.  The quantity did not change, only the $ changed.  

I have this item as a subaccount of Sales.

 

If I use Discount as item type, I cannot use Credit Memo (no negative numbers allowed). 

 

So, what is the Type of item I should create so that there is not a negative quantity number in the sales report and yet still create a Credit Memo?  Is it maybe because I have this Credit item as a sub-account of Sales?  (I need to be able to see credits that were issued, so where else could I put it so that it still appears on sales report?)

Please see attachment

Thank you for your help!

QBDT 2019 Premier

 

Best answer by AlcaeusF

Hi there, @ FMW.

 

I appreciate you for getting back to us here in the Community. Let me share some information about 

 

If you use an inventory item, it will show the -1 amount in the sales report because it's a credit. Since the option to remove the qty is unavailable and using the non-inventory setup won't work, I recommend exporting data to Excel.

 

When creating a credit memo (CM), you'll need to select the same items you want to credit. As of now, there's no item type you can create to avoid the negative figure and still make a CM.

 

To export, please follow these steps:

 

  1. Open the sales report.
  2. Filter the date range.
  3. Make the necessary changes.
  4. Press the Excel drop-down.
  5. Select Create New Worksheet. 

 

Additionally, I recommend visiting the following article to learn how to get the latest version of the report while you're in Excel: Export reports as Excel workbooks in QuickBooks Desktop.

 

Feel free to hit that Reply button if you have additional questions regarding running the reports. Have a great day ahead.

1 reply

S
ShiellaGraceA
February 4, 2021

Helping you record a credit memo is my top priority, @ FMW.

 

You can create a non-inventory part item for your discount. This way, it won't affect your quantity and will allow you to record a positive amount. Let me walk you through the steps. You can also use the other charge type and service type.

 

  1. Go to Lists, then select Item List.
  2. Scroll down and tick the Item drop-down. Tap New,
  3. Under the Type drop-down, choose either Non-inventory part, Service, or Other Charge.
  4. Enter your preferred Item Name, then choose an account where you keep track your discount.
  5. Hit OK.

 

 

After creating the item, go back to Customers at the top then Create Credit Memos/Refunds. This time, choose the non-inventory item you've created to record the discount or credit.

 

When you're ready, you can now apply the credit to your invoice. Just tap the Apply Credits at the top.

 

Additionally, if you need help with other tasks in QBDT, you can browse this link to go to our general topic with article.

 

Keep me posted if you still have questions or concerns with customer credits. I'll be around for you. Take care and have lovely day ahead.

FMWAuthor
February 5, 2021

Thank you for reply.  However, I don't have an issue with recording a credit memo; the issue is that I do not want the credit memo to have a "QTY" associated with it in my reports (Discount items do not appear with QTY in reports).

As indicated in my original post, the credit memo quantity skews the actual qty of the product that was purchasd by the customer.  I don't want the quantity of the original invoice changed once I apply the credit memo to the invoice.  The only thing that should change is the balance due.

 

@ShiellaGraceA wrote:

Helping you record a credit memo is my top priority, @ FMW.

 

You can create a non-inventory part item for your discount. This way, it won't affect your quantity and will allow you to record a positive amount. Let me walk you through the steps. You can also use the other charge type and service type.

 

  1. Go to Lists, then select Item List.
  2. Scroll down and tick the Item drop-down. Tap New,
  3. Under the Type drop-down, choose either Non-inventory part, Service, or Other Charge.
  4. Enter your preferred Item Name, then choose an account where you keep track your discount.
  5. Hit OK.

 

 

After creating the item, go back to Customers at the top then Create Credit Memos/Refunds. This time, choose the non-inventory item you've created to record the discount or credit.

 

When you're ready, you can now apply the credit to your invoice. Just tap the Apply Credits at the top.

 

Additionally, if you need help with other tasks in QBDT, you can browse this link to go to our general topic with article.

 

Keep me posted if you still have questions or concerns with customer credits. I'll be around for you. Take care and have lovely day ahead.

@ShiellaGraceA wrote:

Helping you record a credit memo is my top priority, @ FMW.

 

You can create a non-inventory part item for your discount. This way, it won't affect your quantity and will allow you to record a positive amount. Let me walk you through the steps. You can also use the other charge type and service type.

 

  1. Go to Lists, then select Item List.
  2. Scroll down and tick the Item drop-down. Tap New,
  3. Under the Type drop-down, choose either Non-inventory part, Service, or Other Charge.
  4. Enter your preferred Item Name, then choose an account where you keep track your discount.
  5. Hit OK.

 

 

After creating the item, go back to Customers at the top then Create Credit Memos/Refunds. This time, choose the non-inventory item you've created to record the discount or credit.

 

When you're ready, you can now apply the credit to your invoice. Just tap the Apply Credits at the top.

 

Additionally, if you need help with other tasks in QBDT, you can browse this link to go to our general topic with article.

 

Keep me posted if you still have questions or concerns with customer credits. I'll be around for you. Take care and have lovely day ahead.

 

AlcaeusF
AlcaeusFAnswer
February 5, 2021

Hi there, @ FMW.

 

I appreciate you for getting back to us here in the Community. Let me share some information about 

 

If you use an inventory item, it will show the -1 amount in the sales report because it's a credit. Since the option to remove the qty is unavailable and using the non-inventory setup won't work, I recommend exporting data to Excel.

 

When creating a credit memo (CM), you'll need to select the same items you want to credit. As of now, there's no item type you can create to avoid the negative figure and still make a CM.

 

To export, please follow these steps:

 

  1. Open the sales report.
  2. Filter the date range.
  3. Make the necessary changes.
  4. Press the Excel drop-down.
  5. Select Create New Worksheet. 

 

Additionally, I recommend visiting the following article to learn how to get the latest version of the report while you're in Excel: Export reports as Excel workbooks in QuickBooks Desktop.

 

Feel free to hit that Reply button if you have additional questions regarding running the reports. Have a great day ahead.

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