Recording Sales Returns/Credit Memo in Quick Books

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How to record Sales Returns in Quick Books?

How to record Customer Credit Memo?

Follow the navigation to open the Credit memo form:

Go to -> Home page/Customer Tab -> Select Customer Credit Note

This window will open, follow the steps given below to record customer return.

1.      Select the customer form the dropdown, you can type to search the respective customer for posting return.

2.      Select the “Class/Cost Center” to whom to want to allocate this sales return and related cost revert.

3.      Address details will be populated automatically if provided at the time of customer creation else can be added at the time of return posting.

4.      Select the “Return Date” and transaction number will be generated automatically with provided format.

5.      Select the “Item” or “Service” being returned from “Item Tab” and “Expense Tab” respectively,

6.      Add description for memorizing a transaction in later.

7.      Select “Site/Warehouse” where you want to take stock back, add Quantity returned, Unit of Measurement “UOM” & Rate/Sale Price at which you want the item/service returned.

8.      Select the relevant “Class” and “Tax/Non-Tax” based on taxability of item either it is taxed at Standard rate, Zero rated or Exempt. If tax charged at the time of sale then the portion of return will also be recorded to get Net Sale/VAT Payable.

9.      Add remarks in “Memo” field related to transaction.

10.  Click on “Save & New” or “Save & Close” to post the transaction.

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