QuickBooks Online Groups · Track 4 · Tutorial 2 of 2

Work with credit memos, payments and settlements

Available on ProPremium

An invoice marked paid doesn’t say how. BrizoConsol reads the payments recorded in QuickBooks, and the credit memos and vendor credits they apply, so you can answer “how was this settled?” from one place.

You will needMaple Inc connected to QuickBooks, with its invoices and bills loaded, as in Connect each QuickBooks company. Free, Pro or Premium edition.

By the endAn invoice traced to the two receipts and the credit memo that settled it.

1Know what is read

Payments and bill payments, with the credit memos and vendor credits they apply, are read from QuickBooks and matched to each invoice: invoice 1151 settled by two receipts and a credit memo — QuickBooks records each settlement on the payment, so BrizoConsol reads the payments.

Payments	Money received against an invoice, or paid against a bill (a bill payment).
Credit memos and vendor credits	In QuickBooks, a credit is applied to an invoice or bill through a payment. The part applied is read as a credit, dated with that payment.

The payments are read with each month’s Invoices and Bills: the payments made in that month, matched to the documents they settled, whatever month those are dated in. There is no separate switch, and the nightly read keeps the last 6 months current.

2See how an invoice was settled

Maple Inc invoiced Lakeside Hotels USD 12,000.00 on 2 October 2026 (invoice 1151). It is paid. Here is how:

Select Maple Inc, and search for 1151 in Global Search. The Invoices page opens on it.
Click the row to open it.

Invoice 1151 from Maple Inc to Lakeside Hotels opened to its payments: USD 10,500 received and 1,500 in credits, nothing due, and three dated rows — two receipts and a credit memo shown as a credit note — What settled it (1), the position at the time shown (2), and each dated allocation (3).

Received / Credits applied / Balance due	In the invoice’s own currency. Credits applied is the credit memos applied to it.
Received by / Balance due at	The same position as at the date and time shown, when this record last changed in QuickBooks.
The table	One row per allocation, dated. Money shows as Receipt on an invoice and Payment on a bill; an applied credit memo or vendor credit shows as Credit note.

Here, 7,000.00 was received on 10 October, credit memo 1163 for 1,500.00 was applied on 15 October, and the last 3,500.00 was received on 22 October.

Check

Received plus Credits applied plus Balance due equals the invoice total — 10,500.00 + 1,500.00 + 0.00 = 12,000.00 — and the invoice’s payment history in QuickBooks shows the same three entries.

On an invoice in a foreign currency, QuickBooks converts a payment at the invoice’s own rate, so the panel shows it at that rate only and notes that no exchange difference is measured there. The realised exchange difference is in QuickBooks’ ledger: drill the exchange gain or loss account, as in Follow a figure to the QuickBooks posting.

3Bills work the same way

Open a bill on the Bills page and its panel says Paid instead of Received. Bill payments show as Payment rows, and vendor credits applied to the bill as Credit note rows.

4If something goes wrong

No payments, credits or debits recorded for this document.	Nothing has been received or credited against it — or the month the payment was made in isn’t loaded. Load that month with Invoices and Bills ticked. An invoice paid in instalments keeps every month’s payments once each month is loaded.
A message about the edition instead of payments	Settlement detail needs the Free, Pro or Premium edition.
The invoice still shows a balance after it was paid	The payment month hasn’t been read since. If it is in the last 6 months, it clears after the next nightly read; otherwise load the month.

Want more detail? See the documentation

Invoices & Bills List Data Loading Connecting an Entity to QuickBooks Online

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