Put a checkmark on the boxes for each transaction.From the Account drop-down arrow, choose the account you want to put the money into.To clear the amounts, you have to create a deposit transaction: It serves as the default Deposit To account when you receive payments, uses a payment item on an invoice, or enter a sales receipt. Undeposited Funds hold money until you are ready to deposit them. Usually, the credit memo will show under Undeposited Funds (UF) when the item of that credit is linked to it. Thanks for getting back to us, markfleming. You're welcome to post again if you need anything else. If you want to run and personalize your report to show only the information you need, you can read this resource for future reference: Customize reports in QuickBooks Online. Please follow steps 4 and 5 in this article to guide you through the process: Write off bad debt in QuickBooks Online. Then, recreate and apply it to the appropriate invoice. Go to the Automation section and toggle the radio button to off if the Automatically apply credit is enabled.Īfter that, locate and delete the credit memo for the bad debts.Let's ensure it's turned off before creating a credit memo for the bad debts. When the Automatically apply credit feature is enabled, the credit memo you created will be applied to the customer's open invoices or future invoices. I'll help you in applying the credit memo to the invoice. I've done this in the past, and when I go back to look at the application of a credit memo I've done in the past, it did it properly without filling in the "Amount Received" field. However, after completing the above steps, when I go back to view it after saving, I see that it popped the amount of the credit memo into the "Amount Received" field at the top and applied tht amount it to "Undeposited Funds." So I deleted the transaction and am trying to figure out what is going wrong. The uncollectible receivable now appears on your Profit and Loss report under the Bad Debts expense account.From the Credits section, select the credit memo.From the Outstanding Transactions section, select the invoice.
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