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June 29, 2022
Question

Hello how do I record a money received in our bank account from a supplier? In short, there were bills and credit notes existing and that credits are more than the bills?

  • June 29, 2022
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1 reply

June 29, 2022

Let me help you with this one, accounting-bovc-.

 

We'll need to record the bills and the credits in QuickBooks Online (QBO). Where we can enter the supplier credits and pay the bill using the supplier credits. For the unapplied credits, we can pay the bill using the supplier credits in the future transaction. Here's how to enter the supplier credits:

  1. Click the + New Plus icon. 
  2. Select Supplier Credit.
  3. In the Supplier field, choose the appropriate supplier name.
  4. Enter the Date, Amount, and Account (the account used here is typically the original expense account on the original bill).
  5. Press Save and close.

 

Then, pay the bill using the supplier credits by following the steps below: 

  1. Click the + New Plus icon. 
  2. Select Expense or Cheque. Both Expense and Cheque recognise and record the expense. When you use Cheque, the transaction adds to the list of cheques that you can print.
  3. In the Choose a payee dropdown, select the supplier name.
  4. Leave the Ref/Cheque no, Date, Amount and Memo fields blank.
  5. In the Add to Expense or Add to Cheque section, tap Add for the outstanding bill and the supplier credit.
  6. Press Save and close.

 

Here's an article you can refer to for more details about handling supplier credits and refunds in QuickBooks OnlineFeel free to visit our Manage Suppliers and Expenses page for more insights about managing your supplier transactions.

 

I want to make sure everything is taken care of for you, please let me know how it goes or if you have any other issues or concerns. You can reply to this post and I'll get back to you. Take care always.