Skip to main content
M
Mary107
February 5, 2021
Question

Credit on an Invoice

  • February 5, 2021
  • 1 reply
  • 0 views

Hello,

 

When wanting to invoice a client with a credit: When creating an invoice under the item section, does one select "credit" or "credit/refund adjustments" Should its sub-account be a cost of goods sold or an expense account?

 

Thank you!

1 reply

J
JamesM4
February 5, 2021

Hello Mary107,

 

Recording your transactions correctly is a good way to prevent discrepancies in your books. I'd be happy to steer you in the right direction with recording your transactions so you can get back to doing what you enjoy. QuickBooks is a user-friendly program which helps you complete your work faster saving you tonnes of time. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get expert advice on recording the transactions. Doing this will help prevent any future discrepancies in your books. If you're not in contact with one, I encourage you to search for one on our website using this link here. In the meantime, check out this article which shows you how to: Create and apply credit memos or delayed credits in QuickBooks Online.

 

I'll also leave this question here so other accounting professional members can chime in. Let me know if you have other questions. I'm here to help.

Terms & ConditionsAccessibility statement