Do you use QuickBooks and require information on unpaid debt? What is Delayed Credit in QuickBooks ? understandable and clearly defined If a credit is applied to a later accounting period, it is regarded as a delayed credit. Either money was made or it was spent. Users of QuickBooks can choose whether a credit is a current liability or an asset connected to inventory using the deferred credit function. 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.