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L
leathacamp
February 14, 2023
Question

Assigning an invoice and credit to a reconciled transaction

  • February 14, 2023
  • 1 reply
  • 0 views

I have a withdrawal that was entered by my office manager back in September 2022.  She didnt know what the debit was for, so she just entered it as a withdrawal.  I am now trying to assign an invoice and credit memo after the statement has been reconciled.  I can assign the invoice, but not the credit memo.

1 reply

V
VaTT
February 14, 2023

Go to the withdrawal. Assign it to Accounts Payable with the appropriate vender. It will now associate the withdrawal with the appropriate vendor. Go to "Pay Bills" select the vendor invoice and use the "Set Credit" button to apply the withdrawal to this invoice. QuickBooks will generate a $0.00 transaction that you click on at next reconcilliation.

    G
    Giovann_G
    February 14, 2023

    Hello, leathacamp.

     

    VaTT is correct. You can change the affected account to Accounts Payable (AP) for the withdrawal transaction and ensure appropriate vendor is selected. 

     

    Here's how:

     

    1. Go to Accountant menu, then select Chart of Accounts.
    2. Double-click the bank register and locate the withdrawal transaction.
    3. Select the Accounts Payable account and assign it to the correct vendor.

     

    Then, go to the Pay Bills and link the credit memo to the vendor's bill by clicking the Set credit button.

     

    You can also read this resource to learn more about paying bill in QuickBooks Desktop: Pay bills in QuickBooks Desktop.

     

    In addition, I've added this article to guide you how to fix if you accidentally apply a credit to the wrong bill: Remove or unapply a credit from an invoice or bill.

     

    If you need further assistance managing your bill and credits, let me know. I'll be around to help you.

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