Do you use QuickBooks and need information about pending credit? A definition can be used to explain what is a delayed credit in Quickbooks. A credit that is used in a later accounting period is referred to as a delayed credit. It could be either a revenue or an incurred expense. Whether a credit is a current liability or an inventory asset is indicated by the delayed credit field in QuickBooks. 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 rather than inventory.