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JN33
December 1, 2022
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Apply vendor credit memo to bill that has already been paid

  • December 1, 2022
  • 1 reply
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How can I apply a vendor credit memo to a bill that has already been paid? I have outstanding credit memo's that need to be applied to bill payments so that they do not have outstanding balances.

 

Thank you.

    Best answer by Mich_S

    Hello there, @JN33. I want to share some insights about applying vendor credit to paid bills.

     

    Vendor credits can only be applied to an open bill. If the payment was made by mistake, I recommend removing  it. This reopens the bill. After that, proceed with the instructions below to add the credit to the bill.

     

    1. Click on the Plus icon and choose Pay Bills.
    2. Pick the vendor from the list.
    3. Once done, the vendor's existing credit populates on the Credit Applied column.
    4. Click on Save and close to apply the credit to the vendor open balance.

     

    That should do it! Feel free to also review these helpful articles on how to manage bills, credits, and payments in QuickBooks.

     

     

    Let us know if there's anything we can help with further about this matter or QuickBooks in general. We're here to back you and your business. Take care always!

    1 reply

    M
    Mich_SAnswer
    December 1, 2022

    Hello there, @JN33. I want to share some insights about applying vendor credit to paid bills.

     

    Vendor credits can only be applied to an open bill. If the payment was made by mistake, I recommend removing  it. This reopens the bill. After that, proceed with the instructions below to add the credit to the bill.

     

    1. Click on the Plus icon and choose Pay Bills.
    2. Pick the vendor from the list.
    3. Once done, the vendor's existing credit populates on the Credit Applied column.
    4. Click on Save and close to apply the credit to the vendor open balance.

     

    That should do it! Feel free to also review these helpful articles on how to manage bills, credits, and payments in QuickBooks.

     

     

    Let us know if there's anything we can help with further about this matter or QuickBooks in general. We're here to back you and your business. Take care always!

      S
      sooverit2
      June 12, 2023

      QBO needs to have the ability to apply a vendor credit to a bill that is already paid, in order to create an open balance, to pay the bill again. For example, bills paid via check directly from the bank, then reversed in a later month because the check never cleared. This hits your bank account when the check payment is ISSUED - Not when the check is cashed/deposited by the payee. Now when the new payment shows up in the bank feed, you are unable to apply it to the original invoice. Now I have to create a work around. I've brought this up before.

      DivinaMercy_N
      DivinaMercy_N
      June 12, 2023

      Hi there, @sooverit2. I can see the benefits of being able to apply credits to a paid bill to pay it back in case the bank reverses the payment. I'm here to share some information about it.

       

      In QuickBooks Online (QBO), you can only apply a Vendor credit to unpaid bills. If it has already been paid, unlink the payment first to apply for credits.

       

      That said, I recommend sending feedback to our product developers to request the addition of this feature. They will review your suggestions and consider adding them to future updates based on user demands.

       

      Here's how:

       

      1. In your QBO account, navigate to the Gear icon.
      2. Next, select the Feedback option.
      3. From there, enter the details of your product comments, suggestions, and requests. Example: Add the ability to apply a vendor credit to a paid bill.
      4. Then, click Next to submit. 

       

      When submitted, you track the status of the feedback through the QuickBooks Online Feature Requests website.

       

      Additionally, you can view all the money you paid to a vendor for a specific date range by running the Transaction List by Date report in QBO.

       

      Please know that you can always post your concern about managing bills here in the Community. I'm always ready to lend a hand. Have a good one, and stay safe. 

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