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hockeywolf
January 15, 2024
Question

Vendor Credits

  • January 15, 2024
  • 1 reply
  • 0 views

A couple weeks ago we moved our books from a server QBD host platform to QBO. There are quite a few mystery vendor credits that keep auto-populating my vendor payment credit fields when I'm paying bills, and I can't find where they're from (I inherited the books from a non-bookkeeper).

 

How do I find a vendor credit in QBO that wasn't entered as a credit? I'm assuming it was an overpayment or a payment made outside of bill-pay, but this particular vendor has hundreds of bills entered over the last 13 years and I'm not sure how to comb through and find the discrepancy.

1 reply

Rainflurry
Rainflurry
January 15, 2024

@hockeywolf 

 

Run an A/P Aging Detail report, then click the open balance total for that vendor.  That should show you all open A/P.  The negative amounts are credits.  Do you see them on that report?   

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hockeywolfAuthor
January 15, 2024

I wish I could say that cleared it up, but it shows a payment from 2021 (which had been cleared) resulting in a credit, even though the payment and invoices were balanced. In addition, when I do an audit history on that transaction it shows that it was edited on the day we moved to QBO by "Import Administration."

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RichardFalk
November 23, 2024

A vendor credit is created whenever there is a transaction that reduces the Accounts Payable.  While this can come from a Bill Credit, it can also come from a G/L journal entry (or equivalent such as a zero amount check with paired accounts one of which is an Accounts Payable account).  So the easiest way to find all vendor credits in QuickBooks Desktop is to run the "Vendors & Payables - A/P Aging Summary" report where you Customize Report and in Filters set Amount to <= 0.  This will show all transactions with a negative amount (i.e. reducing) the A/P account.  If you click on the Total for a particular vendor in that report, you will see the detailed (each negative) transactions that led to that total.

 

Of course, since you've moved to QuickBooks Online, it doesn't have the same rich customizable reports as QuickBooks Desktop so I don't know if there is an equivalent way for you to get this information.

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