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One Auto
January 16, 2021
Solved

Credit anount taken from Invoice help!

  • January 16, 2021
  • 1 reply
  • 0 views

Hi, 

I have a supplier, who has applied credit to a purchase, they have Invoiced me the total amount but taken the off the credit from the actual bank transaction.

I have two credits of £18, the invoice amount was £412 but the supplier has taken £376 out of my bank, how would I input this into QuickBooks. 

 

Thanks

Best answer by AlcaeusF

Hi there, @One Auto.

 

Welcome to the Community. Let me help you enter the transactions in QuickBooks Online.

 

You'll need to enter two supplier credits in the amount of £18. You'll be applying these transactions to the bill amounting to £412.

 

To create a credit, here's how:

 

  1. Click the + New option in the upper-right corner.
  2. Select Supplier credit under Suppliers.
  3. Enter the necessary information.
  4. Hit Save and close.
  5. Repeat steps 1 - 4 for the second credit.

Once done, you should be able to see two credits and a bill from the supplier's transaction list. Let's start applying them by making a payment (see screenshot below).

 

 

Here's how to apply the credits:

 

  1.  Open the bill.
  2. Under Outstanding Transactions, make sure to put a checkmark to the bill.
  3. Below Credits, put a checkmark on the credits. 
  4. Make sure the amount in the upper-right is zero. 
  5. Hit Save and close.

The bill will now show with a balance of £376 (see additional screenshot).

 

 

If you've linked your bank account to QuickBooks, please follow these steps:

 

  1. Go to Banking.
  2. Choose your bank account.
  3. Search for the expense. 
  4. Select Match.

After the following the steps above, it should zero out the balance of your bill.

 

 

You can also check this article for more details about how to handle credits in QuickBooks: Enter supplier credits and refunds in QuickBooks Online.

 

Please let me know if you need anything else regarding the process. The Community and I will be here to help you.

 

1 reply

AlcaeusF
AlcaeusFAnswer
January 16, 2021

Hi there, @One Auto.

 

Welcome to the Community. Let me help you enter the transactions in QuickBooks Online.

 

You'll need to enter two supplier credits in the amount of £18. You'll be applying these transactions to the bill amounting to £412.

 

To create a credit, here's how:

 

  1. Click the + New option in the upper-right corner.
  2. Select Supplier credit under Suppliers.
  3. Enter the necessary information.
  4. Hit Save and close.
  5. Repeat steps 1 - 4 for the second credit.

Once done, you should be able to see two credits and a bill from the supplier's transaction list. Let's start applying them by making a payment (see screenshot below).

 

 

Here's how to apply the credits:

 

  1.  Open the bill.
  2. Under Outstanding Transactions, make sure to put a checkmark to the bill.
  3. Below Credits, put a checkmark on the credits. 
  4. Make sure the amount in the upper-right is zero. 
  5. Hit Save and close.

The bill will now show with a balance of £376 (see additional screenshot).

 

 

If you've linked your bank account to QuickBooks, please follow these steps:

 

  1. Go to Banking.
  2. Choose your bank account.
  3. Search for the expense. 
  4. Select Match.

After the following the steps above, it should zero out the balance of your bill.

 

 

You can also check this article for more details about how to handle credits in QuickBooks: Enter supplier credits and refunds in QuickBooks Online.

 

Please let me know if you need anything else regarding the process. The Community and I will be here to help you.

 

O
One AutoAuthor
January 16, 2021

Hi, Thanks for the reply.

 

Unfortunately i'm stuck at the first part, i'm unable to select Supplier Credit, I don't have the correct subscription/plan!

Rose-A
Rose-A
January 16, 2021

Good day, One Auto.

 

I want to make sure you're able to follow the steps provided by my colleague. Since the Supplier Credit feature is not an option in your current subscription, you might consider upgrading your QuickBooks Online plan.

 

Here's how:

 

  1. Click the Gear icon ⚙ and choose Account and settings.
  2. Select the Billing & Subscription in the left panel.
  3. In the QuickBooks Online section, select Upgrade your plan. If you don't see it, you’re already using the plan with the most features.

  4. Choose a plan and select Choose plan.
  5. Hit Get started.

 

Once upgraded, you can go back and follow the outlined steps above. You can go through this link to know more about the features and options available in QuickBooks Online versions: QuickBooks Comparison Chart.

 

Additionally, you might find this article interesting: Capture and categorise expense receipts and bills in QuickBooks Online. This will help you manage your expenses and bills in QuickBooks Online.

 

Let me know how it goes by leaving a reply below. I want to make sure this is resolved. I'll be right here if you need anything else. Have a good one!

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