Step to import credit memosĪfter downloading and installing the Zed Axis software on your computer. Using Zed Axis software you can import credit memos from text files or from Excel spreadsheets directly into QuickBooks. In QuickBooks Desktop a credit memo is used to track credits sent to customers. We’ve got our New option.Overview of importing credit memos into QuickBooks Desktop We’ve got our Next and Previous and our Find like we’re familiar with. Now, let’s see if there’s anything new up here on our tabs. And that’s really all I want to do in this particular case. It says, Nontaxable! Because, if it was set on Tax, then you would be actually crediting them more than $0.04. It’s really important as well that where this tax column. We’re going to say quantity of one and we want to credit off $0.04. But for now, we’re going to ahead and choose it. We’re going to be looking at items a little bit later in module six and I’ll show you how they set this up. Now, they had bad debt already set up in this list as other charge. In this case, all we’re going to do is just write off some bad debt, which was the $0.04 we talked about. That’s really, really important as far as keeping inventory straight. That means you need to pick that same chair from this list. If the person is returning the chair, then you’ll want to put it back in your inventory. When you actually created the invoice to sell the chair, QuickBooks took that chair out of your inventory. If you are refunding a customer for a physical inventory part, let’s just say a chair for example. We’re going to go down to the item and decide what it is we’d like to credit. But you want to change it to some other number and then it will number sequentially. Numbers that anything that’s numbered in QuickBooks will start with number one. Remember, I also told you as far as the credit memo. Let’s say that, I’m going to credit this on January the 15 th. You’re going to go ahead and make sure you have everything correct around the screen here. So, we’ll see that window in a little bit. But, that’s not the case because it doesn’t know what we’re trying to credit. Now, at this point, a lot of people think that it’s going to pop up with that invoice where the customer owes $0.04 so we can check it off. Then you’re going to pull in your customer and your job. You’re going to go here! Where it says Refunds & Credits. And I’ll show you how to actually create that credit memo., We’re getting ready to create a credit memo and you will see that disappear once we do that. Here’s the one invoice where he owes us $0.04. If I go up and change my date to maybe the end of the month, for example, and then click to refresh the report, now, you’ll see there’s Tom Allen. The reason we don’t see anything here for Tom Allen, because this is only anything open as of December the 15 th. S,o we should have an invoice where it says the customer owes $0.04. Now, the one I want to show you is if you remember back in section five we talked about receiving payments. And I wanted to show you before we go on and do our credit memo that we do have these open invoices here. Now, we’re going to look at all the reports later on in module eleven but right now this would be any invoices that have not been paid. And I’m going to come down to Customers & Receivables and I want to look at Open Invoices. I’m going to go up to Reports on the menu. You’re going to use this Refunds & Credits button here.īefore we do this though, I want to look at a quick report having to do with accounts receivable so that you can see that we do have monies sitting on our customer’s account that we’re going to want to credit in this particular exercise. You’re going to do it the exact same way. Whether you’re going to actually issue a refund to a customer who’s already paid in full or issue a credit memo that stays on their account. Let me show you how that’s done in QuickBooks. There are various reasons for creating credit memos. It could be like, in our example, our customer owed us a little bit of money and we’re going to go ahead and write that off. And they want to keep a credit on their account. You would use a credit memo any time you wanted to do something like, for example, someone returned something. Today, I’m going to show you how to create credit memos. We are working in module four and we’re all the way down to section seven.
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