how to apply credit memo to invoice in quickbooks online

How to Apply a Credit Memo to an Invoice in QuickBooks Online

Step 5: Save and Close

Save and Close Button in Quickbooks

Once you have verified the applied amount, it is time to save and close the transaction by clicking on the “Save and Close” button. This finalizes the application of the credit memo to the invoice and ensures that the changes are recorded in QuickBooks Online.

The “Save and Close” button is located at the bottom right corner of the screen. It is easily identifiable by its distinct label and icon. By clicking on this button, you are confirming that you have reviewed and approved the application of the credit memo to the invoice.

After clicking on the “Save and Close” button, QuickBooks Online will update the transaction and save the changes made. The credit memo will be applied to the invoice, reducing the total balance due. This will reflect accurately in your financial reports, making it easier to track and manage your accounts receivable.

It is important to note that once you have saved and closed the transaction, the application of the credit memo cannot be undone. Make sure you have carefully reviewed the applied amount and ensured its accuracy before proceeding with the finalization.

By following these step-by-step instructions, you can easily apply a credit memo to an invoice in QuickBooks Online. This feature allows you to efficiently manage your accounts receivable and accurately track your customers’ balances. It streamlines your bookkeeping process and ensures the accuracy of your financial records.

Thank you for reading the how-to guide on how to apply a credit memo to an invoice in QuickBooks Online. We hope this article has been helpful in guiding you through the process. For more informative articles and resources related to accounting and finance, visit []!

If you are new to QuickBooks Online, you may want to check out our QuickBooks Online tutorial to get started with the basics.

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