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Are you using QuickBooks and want to know about delayed credit? What is a delayed credit in QuickBooks can be explained with a definition. A delayed credit is a credit that is applied in a future accounting period. It can be either an accrued expense or an income. The delayed credit is a field in QuickBooks that indicates whether the credit is a current liability or an inventory asset. If it’s an inventory asset, the credit account will be a Cost of Goods Sold account, and the creditor account will be Inventory. If it’s a current liability, then the creditor account will be Financial, not Inventory.