HOW TO BOOK CREDIT NOTE RECEIVED FROM SUPPLIER

I'd be glad to help you book a credit note in QuickBooks Online, @nishantdoshi22.

You can link a supplier refund cheque to a supplier credit. To start, enter the refund cheque in the Deposits screen. Let me show you how:

1. Go to the + New button.
2. Choose the Bank Deposit option.
3. In the Add funds to this deposit section, fill in the necessary fields.
4. Once done, click Save and close.

Then, link the deposit to the supplier credit. Here's how:

1. Go to the + New button.
2. Choose the Expense/Cheque option.
3. In the Payee drop-down, select the supplier's name.
4. Leave the Ref/Cheque no., Payment date, Amount, and Memo fields blank.
5. In the Add to Expense/Add to Cheque section, click Add for the outstanding supplier credit and deposit.
6. Once done, click Save and close.

For more information, feel free to check out this article: How do I handle supplier credits and refunds?.

I've also added this article that can guide you to enter bill payment in QuickBooks Online: Enter and pay bills.

Feel free to post a comment below if you have further questions about supplier credits. I'm more than happy to help. Have a great weekend.