Applying a credit memo to an open invoice
After recording a credit memo for a customer, the credit will immediately be applied to the open balance for that customer. Let’s assume that Astro Jetson has sent a payment in for invoice #1005. Navigate to the Receive Payment window, select Astro Jetson from the customer dropdown and the following screen displays:
Figure 7.19: Astro Jetson invoice
As you can see in Figure 7.19, the original invoice amount was $2,000.00, and now that the credit has been recorded the open balance has been reduced by the $250 credit amount (shown in Figure 7.18) to $1,750.00.
Pro Tip: If you do not invoice customers through QuickBooks, you can issue a refund check by going to + New and selecting Check, listed below the Vendors column.
