How does a delayed credit appear on the P&L/Balance sheet?

Hi there,

Glad to have you join the Community. QuickBooks is equipped with the tools and the resources that help make your accounting easier. I'll be happy to share more info so you're on the right track with your work. 

Unlike credit notes, delayed credits don't impact sales reports until you apply them to invoices. When using delayed credits, it's important to note they don't affect the customer's open balance. Your customer can use their delayed credit to reduce the balance of an invoice. You can also add delayed credits to future invoices as a line item. I also recommend  using our Test Drive account that comes preloaded with sample data. This allows you to try different methods of entering transactions in QuickBooks to see how they affect your account. You can access the test drive account using this link here. 

You're more than welcome to keep me posted on how you make out. I'll be here.