Skip to main content
E
Erss
February 7, 2023
Solved

Return Item back to Vendor, but account Still have a credit.

  • February 7, 2023
  • 1 reply
  • 0 views

We have returned an item back to vendor.

1. Enter Bills Credits

2. Select vendor/ item/amount save.

(there is a credit in vendor)

 

Then go to Banking > Make Deposit > Receive from Vendor, From Account A/R, and enter amount

(after this the balance is zeroed out)

 

Then Pay Bill, and record the deposit.

(there is now a credit again in the vendor)

 

What am I doing wrong, and how can I get rid of the credit?

 

 

 

Best answer by Maybelle_S

Thanks for coming back to us, @Erss.

 

When paying bills, ensure to select Set Credits to zero out the vendor credit. I'll guide you on how.

 

  1. Go to the Vendors menu.
  2. Select Pay Bills.
  3. Put a checkmark on the vendors you want to pay.
  4. Click Set Credits.

  5. In the Apply Credits window, put a checkmark of the credit.
  6. Click Done.

  7. Hit Pay Selected Bills.

 

If the issue persists, it would be best to send us a screenshot so we can look for the best resolution.

 

I've added this link about what reports we can run to review your financials: Understand reports.

 

I'll lend my ears if you have other concerns regarding your credits and other entries in QuickBooks. I'll make sure to work something out for you.

1 reply

A
AileneA
February 7, 2023

Hello, Erss. 

 

I appreciate you going into more detail about your issue and taking some action to fix it. Allow me to assist you in removing the credit from your vendor bill. We must be sure to use the correct impacted account in order to guarantee that your vendor credit will zero out. Let's take the actions listed below to complete this task: 

 

  1. First record a Deposit of the vendor check:
    1. Click the Banking menu, then tap Make Deposits.
    2. If the Payments to Deposit window appears, hit OK.
    3. In the Make Deposits window, select the Received from drop-down and choose the vendor who sent you the refund.
    4. In the From Account drop-down, select the appropriate Accounts Payable account.
    5. In the Amount column, enter the actual amount of the Vendor check.
    6. Press Save & Close. 
  2. Then record a Bill Credit for the refunded amount: 
    1. From the Vendors menu, select Enter Bills.
    2. Press the Credit radio button to account for the return of goods.
    3. Enter the Vendor name.
    4. Select the Expenses tab and enter the Accounts on the original bill.
    5. In the Amount column, enter the appropriate amount for each Account.
    6. Hit Save and Close.
  3. Finally link the deposit to the Bill Credit:
    1. From the Vendors menu, tap Pay Bills.
    2. Check the Deposit that matches the Vendor check amount.
    3. Hit Set Credits and apply the Bill Credit you created earlier then press Done.
    4. Select Pay Selected Bills, then select Done. 

 

For more details about this, you can follow the scenario 1: Record a vendor refund in QuickBooks Desktop. 

  

That's it. Let me know if you have follow up or other questions regarding QuickBooks. I'll be here to extend another help. Have a great day!

E
ErssAuthor
February 9, 2023

Hello, that is exactly what I did, but that's where im getting a credit from.

 

- Return item gives credit to vendor

- Make deposit takes away the credit and zeros out the vendor

- Once that deposit is Pay Bills, then there is a credit again. Please advise, thank you!

 

M
Maybelle_SAnswer
February 9, 2023

Thanks for coming back to us, @Erss.

 

When paying bills, ensure to select Set Credits to zero out the vendor credit. I'll guide you on how.

 

  1. Go to the Vendors menu.
  2. Select Pay Bills.
  3. Put a checkmark on the vendors you want to pay.
  4. Click Set Credits.

  5. In the Apply Credits window, put a checkmark of the credit.
  6. Click Done.

  7. Hit Pay Selected Bills.

 

If the issue persists, it would be best to send us a screenshot so we can look for the best resolution.

 

I've added this link about what reports we can run to review your financials: Understand reports.

 

I'll lend my ears if you have other concerns regarding your credits and other entries in QuickBooks. I'll make sure to work something out for you.

Terms & ConditionsAccessibility statement