Solved
Vendor credit
Hi Everyone,
A vendor gave us a credit towards our bill that we owe to them. How should we create the credit in QB Enterprise 21？Should we create a journal entry to set the credit? or to write a check Thank you for your help!
Welcome to Community, zengfangping.
I'm here to make sure you'll be able to create the credit in QuickBooks Desktop.
You can create a bank deposit affecting the account payable to the vendor. I'll show you how:
- Select Make Deposits from the Banking menu.
- In the Payments to Deposit window appears, select OK.
- Select the Received from the drop-down in the Make Deposits window and choose the vendor who sent you the refund.
- Choose the appropriate Accounts Payable from the From Account drop-down menu.
- Enter the amount of the Vendor check in the Amount column.
- (Optional) Enter a memo, check number, payment method, and class.
- Select Save & Close.
Once done, follow the same steps to link the deposit to the Bill Credit:
- Click on Vendors at the top menu bar.
- Select on Pay Bills.
- Choose the bill that you wish to be paid.
- Click the Set Credits button at the bottom to apply for credits.
- Once done, click on Pay Selected Bills.
You may also read through the following links for more insights about handling credits:
Additionally, I'm attaching this link that you can utilize for future reference. This contains details on how to ensure your accounts are well organized: Reconcile an account in QuickBooks Desktop.
Be sure to let me know if you have any other questions about paying bills. I got you covered with any QuickBooks concern. Thanks for coming to the Community, wishing you continued success.