Quickbooks – Set Customer Credit Limits

To set a credit limit for a customer:

  1. Click Customer Centre.
  2. Double-click the customer for whom you want to set a credit limit.
  3. On the Payment Info tab, enter the credit limit in the field provided. QuickBooks remembers the limit and warns you when the customer is about to exceed the limit.
  4. Record the credit limit for this customer.

Click Next to record and enter another.

Click OK to record but close the window.

Applying the credit to invoices due:

If you previously created an adjustment note for a customer, you can apply the amount of the adjustment note to the unpaid invoices and billing statements for that customer.

Important: If you’ve created more than one job for the customer, the credit can be applied only to the job for which it was issued. However, if you have an unapplied credit for a customer because of overpayment on an earlier job, you can apply the credit toward a second job for that customer, see next.

  1. Go to the Customers menu and click Receive Payments.
  2. In the Receive Payments window, click the Received From drop-down list and choose the customer to whom you’re applying the credit.

A note alerts you if the customer has available credit and the Customer balance field shows the amount available. If you don’t specify the job, the Unused Credits field shows the total credits available for all jobs.

  1. Click in the Payment column to select the invoice or billing statement to which you want to apply the credit. Do not click in the tick column.
  2. Click the Discount & Credits button.

What if the credit doesn’t appear in the Discount and Credits window?

You can only apply credits that were issued for the same customer and job as the invoice or billing statement. If the credit was issued for a different job or only for the parent customer (without a job designation), the credit cannot be applied to the invoice or billing statement you chose in the Receive Payments window.

For example, if you issued an adjustment note for the Living Room job for Kristy Abercrombie, you cannot apply the credit to an invoice for the Kitchen job.

If you mistakenly issued the adjustment note to the wrong job, you can edit the adjustment note to assign it to a different job. Otherwise, follow these directions to use the credits from one job as payment for another job, see next section.

  1. Click Done.
  2. Save the credit.

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