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H
HyCorAdmin
June 6, 2023
Question

Issue credit without affecting inventory

  • June 6, 2023
  • 1 reply
  • 0 views

Using QB 2015 Premiere Manufacturing & Wholesale, inventory based sales. How can I issue a credit after an item has been sold/invoiced without affecting the inventory? They are not returning the goods, I just want to refund part of the cost. I tried creating a 'discount' item with the cost of goods as the account, but you can't have a negative amount on a credit note. Also tried using the discount on an invoice, and same problem - can't have a negative amount on an invoice. It has to be a credit note of some kind, but I'm at a loss how to achieve it.

 

Scenario: Sold 5 of item ABCDE @ $100.00 each, I want to credit the customer $10 each - $50 in total, without affecting the inventory level of item ABCDE. 

1 reply

J
JamesM4
June 6, 2023

Hello HyCorAdmin, 

 

Welcome to the QuickBooks Community. QuickBooks is an easy-to-navigate program that helps you to manage your accounting with ease. I'll be glad to share more info so you're on the right track with your work. 

 

In order to accurately record your transactions, I highly recommend consulting an accounting specialist for expert suggestions. This ensures your books remain accurate while you continue to manage your work with peace of mind. You can also get in touch with a professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in. In the meantime, feel free to check out the following article that shows you how to: Create rules to categorize transactions in QuickBooks Desktop.

 

Let me know if this info helps. Otherwise, feel free to ask questions in the comments below.

H
HyCorAdminAuthor
June 6, 2023

It isn't really a question for an accountant, it's the mechanics of Quickbooks.

J
JamesM4
June 6, 2023

I hear you on this. QuickBooks makes it easy to issue credits. For the mechanics on how to do so, I encourage you to check out this helpful article here. For steps that go beyond what's been provided in the article, it's best to get in touch with an accounting specialist for expert advice. Otherwise, feel free to ask other questions here, I'm here to steer you in the right direction.

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