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Do you need details on outstanding credit and utilise QuickBooks? What Is Delayed Credit in Quickbooks? Definable and explicable A delayed credit is any credit that is applied to a later accounting period. Either a profit was made or a cost was incurred. The delayed credit feature in QuickBooks lets users know if a credit is a current liability or an asset related to inventory. If the asset is an inventory asset, the credit account will be a Cost of Goods Sold account and the creditor account will be Inventory. The creditor account will be financial rather than inventory if the debt is current.