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Do you use QuickBooks and require information on outstanding credit? What Is Delayed Credit in Quickbooks? Definable and comprehensible Any credit that is applied to a later accounting period is considered a delayed credit. Either money was made or money was spent. Users can determine whether a credit is a current liability or an asset tied to inventory using QuickBooks' delayed credit feature. The credit account will be a Cost of Goods Sold account and the creditor account will be Inventory if the asset is an inventory asset. If the debt is current, the creditor account will be financial as opposed to inventory.