Credit Memos

Credit Memos: You can now create, view, and email Credit Memos right from Recur360. Going forward Credit Memos will sync from QuickBooks into Recur360, and Payments not applied to invoices will show in their unapplied balance. If you have Credit Memos/unapplied Payments from the past that have not synced with RECUR360, you can do a full Credit Memo/Payment sync by going to Settings->Account and choosing the corresponding Sync All option near the bottom of the page.

Be aware that after turning on a Sync All, the next QuickBooks sync may take a significant amount of time depending on how many Credit Memos/Payments your QuickBooks file has (you can also trigger one-off syncs on a per-Credit Memo/Payment basis by simply opening and editing/saving the Credit Memo or Payment in QuickBooks. Recur360 will pick up the 'changed' Credit Memo/Payment at the next sync and bring it over). With this new information, when you open the payment popup when going to pay for an Invoice, if the customer has any unapplied Payments or Credits, you will see a new button allowing you to apply them to the Invoice. 

There are a few different ways to issue a credit memo. 

1. The first way is to visit the Credit Memos report. 

You will see a new green ‘Add New’ button that will bring you to a page where you can create a Credit Memo.

After creation, you can go to Process Payment in any invoice and choose the option to apply the Credit Memo to the invoice.

If the credit memo is for multiple invoices, repeat this step for any other invoices the credit memo needs to be applied to. 

2. Similarly if you go into any invoice and choose Options->New Credit Memo From Invoice,

you will be brought to the create Credit Memo page pre-filled with all of the Invoice details and also the option to automatically apply that Credit Memo to the Invoice it was created from.

3. You can visit any customer and choose Options->New Credit Memo to start a Credit Memo for the specific customer.

This will bring you to the Create New Credit Memo page with the customer details already filled in. 

Fill in the details and click the green 'Save' in the top right.

If you visit the 'Credit Memos' report  you will see all of the credit memos issued with the invoices they are applied to. 

Additionally you can click into any Credit Memo from many pages/reports that list Credit Memos and view details about the Credit Memo. You can also edit, make a copy of, or email the Credit Memo from this screen. A Credit Memo email template can be setup in Settings->Email as well.

*NOTE: QuickBooks Desktop Canada is not currently supported for the new Credit Memo features. Stay tuned as those will be coming soon along with other exciting updates for QuickBooks Canada users in an upcoming release!

In Settings->Email, you can also turn on a feature under 'Invoice Link Settings' where you can allow your customers to apply unapplied Payments/Credits to their Invoices from in their payment links. 

Similarly if you edit a Customer in RECUR360, you can turn on/off their ability to apply Credit Memos/Payments in their Payment link under 'Additional RECUR360 Settings'. 

Also in Settings->Account under 'Recurring Invoice Settings', you can turn on a feature to automatically apply Credits/Payments to Invoices generated from Recurring Invoices prior to processing payments. 

You can also set the recurring invoice to automatically apply unapplied payments. 

There is also a new column if you visit Reports->Payment History, called 'Unapplied Amount' showing how much of a Payment is still unapplied. 

Customer Unapplied Credits/Payments: If you visit the Customers section, you will see a new 'Recur360 Unapplied Credits/Payments' column. This column will show the total value of all unapplied Credits/Payments applicable to the customer that Recur360 is aware of. 

If you click into the customer, you will see the similar value on that Customer Details page. 

If you click on the value of the 'Recur360 Unapplied Credits/Payments' you will be brought to a new page with various filters showing you all applicable unapplied Payments/Credits. The totals/table include any applicable parent/child customer Credits/Payments that Recur360 supports. 

As long as the customers/account are set to bill with parent, Recur360 supports applying unapplied Payments to Invoices on any child Customers for QuickBooks Online. For QuickBooks Desktop, the top parent Customer can apply their payments to any child Customers/Jobs, but child Customers/Jobs cannot apply Payments to child Customers/Jobs below them. Recur360 supports applying Credit Memos to Invoices on parent customers only for QuickBooks Online. You can also visit Settings->Email and if you look under 'Invoice Settings' and 'Recur360 PDF Settings', you will see new options if you would like to show that amount of unapplied Credits/Payments to your customers on any emails/pdfs they receive. 

Credit Memos on Invoices: When RECUR360 sends out Invoice emails, if there is a Credit Memo applied to the Invoice that RECUR360 is aware of, those Credit Memos will now show with the payment lines on the Invoice. Similarly if you visit an Invoice inside of RECUR360, you will see those applied Credit Memos.