Do you use QuickBooks and need information on outstanding credit? What is delayed credit in QuickBooks? can be defined and explained. Any credit that is applied to a later accounting period is a delayed credit. There is either a revenue or an expense that was incurred. In QuickBooks, the delayed credit field indicates whether a credit is an inventory asset or a current liability. 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.