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L
LizaM1
December 30, 2021
Question

Supplier Credits

  • December 30, 2021
  • 2 replies
  • 0 views

Hi

I have 2 suppliers who have paid money to us for which we didn't raise an invoice (as they are a supplier rather than a customer)  What is the best way for me to write off these amounts?

Thanks

2 replies

A
Ashleigh1
December 30, 2021

Hello LizaM1, 

 

Welcome to the Community page, 

 

So are you refunding the money back to the suppliers in real life or not? 

L
LizaM1Author
December 30, 2021

No, we aren't refunding as it was correctly paid to us.

G
GeorgiaC
December 30, 2021

Hi LizaM1, if the money is income relating to a sale we'd recommend creating the suppliers as customers and raising a sales receipt against each. If the money is relating to a refund of goods/services provided by the supplier to be credited against a future bill you can record this using a supplier credit transaction. 

L
LizaM1Author
January 2, 2022

Great, thanks.

Think I will do it as supplier credit transaction - do you perhaps have a step by step guide?

Thanks

 

 

MichelleBh
MichelleBh
January 2, 2022

Yes, I can give you the step-by-step instructions with screenshots, @Liza. This way, I can guide you accordingly.  

 

I'll make sure that you can record the credit without a moment's delay. To start, heed the steps below: 

 

  1. Go to the +New menu and choose Supplier credit. 
  2. Select the supplier name in the drop-down arrow. 
  3. Pick the appropriate Category details or Item details in the box. That will depend on how you record purchases with this supplier.
  4. Enter the Amount and other necessary fields. 
  5. Click Save and close. 

 

When you’re ready to use the credit, here’s how to do it: 

 

  1. Select the Expenses and choose the appropriate supplier name.
  2. In the Transaction list, click the Make payment hyperlink. 
  3. Check the bill and credit transactions in the list.
  4. Enter the necessary details and click Save and close.  

 

You can also go to the +New and select Pay bills. For the other way to apply for the credit, see this link: Handle supplier credits and refunds in QuickBooks Online.

 

Check out these articles below on how to use the different supplier transactions and handle them suitably: 

 

 

Remember that you can always ask me about any topics or other processes within QuickBooks. I'm always ready to work with you again. Keep safe, Liza. 

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