How to Give credits and accept credits on products

Giving Credits and Accepting Credits on Products QUICKBOOKS LESSONS ON RECEIVING CREDIT AND GIVING CREDITS TO CUSTOMERS

Using Voucher #847069 

In the next two slides you will see two vouchers #847069 for how to apply credit when a customer has deduced the amount from the invoice



Voucher # 847069 is cut to fit into the slide…so there are other invoices, but I have only placed the important information that needs to be seen 

To see the full invoice for voucher #847069, please see your email

Voucher Additional Credits 

As a general rule payments have to match before they are added.



Because in the previous slides credits were either deducted or returned back to us…invoices will not match with the payment because there is either too much that was paid or less than the amount owed to us



Anytime they deduct credit from us…due to Buyer’s Remorse we have to credit them and notate the Tracking for that order. Please make sure by entering the tracking no in UPS to make sure the item is actually sent to us: 

Go here and enter tracking no. http://www.ups.com/tracking/tracking.html



And enter the tracking no. in the voucher the tracking no. was 1ZA6000X9062676958

Checking on UPS you will see that the item was delivered

Creating a Credit Memo ď ľ

When you create a credit memo, go to the customer for which you are creating the credit memo:

• Click on Credit Memo

Credit Memo Created on 06/30the date they requested credit

•

Note that the PO # is notated here and so is the tracking no.

Credit Memo 

Make sure the credit memo is correct. There should be ONLY ONLY ONLY BUYER’s REMORSE CREDIT.



There should not be any other credit requested. If there is, please notify me ASAP.



For example there is a credit memo for $6.86 that is requested- but that is not right. 

However, we will still credit that just so we can clear the books, but we will request it from them in other invoices. We will show that in the outstanding invoices and it needs to be highlighted in excel sheet so we can go after it

Credit Memo

Applying the Amount from Payment Voucher #847069 

Payment Voucher is for invoice # 1456,1458,1459,1460,1461,1462,1463 

Apply 12% discount as intended for these invoices as previous lessons (Only for Wayfair)



And go to payments

Payment

• Payment date must match the deposit • Click on all the invoices that the payment voucher was for • Click on the credit memo created • It should net to zero or a few cents off and then save and close

Payment matches in Account 8836 and then click on Match

• Click on Match and you are done with that

Buyers Remorse and Non Approved Credit 

In this example the buyer’s remorse was approved but the credit was not approved.



Notate an excel sheet of the payment that was not approved so we can go after it (The $6.86)

Return Credit 

This is when the customer returns the credit back to us because of one of many reasons 

Either we did not approve the credit they took away from us or for any reason



We will use Voucher Payment # 852548



See next slide

Create an invoice • Products and Services • Select Chargebacks (not the item) • Invoice date is the date the PO # is from (06/30/2015) • If you select the item it will take it away from inventory again – we don’t want that • Amount was 27.37

Apply the Payment Voucher ď ľ

Apply the payment Voucher, but this time remember to add the invoice #1511 to the invoices as well.

ď ľ

SO the invoices that should be included are 1480, 1483 1489, 1491, 1494 and the new invoice 1511 for the payment voucher 852548

Apply this method to all accounts ď ľ

Although this example was only for Wayfair, the same application and methods can be applied to all other accounts as well.