Skip to main content
S
shemwaks
September 22, 2021
Solved

Credit note from supplier

  • September 22, 2021
  • 1 reply
  • 0 views

How do you post a credit note from a supplier in QuickBooks online?

Best answer by Ashleigh1

Hello Shemwaks, 

 

Welcome to the Community page, 

 

Here are the steps you would need to do. 

 

Refund from your suppliers

 

1. Create a supplier credit (+ icon -> supplier credit)
2. Choose the correct date and supplier and expense account, put in the amount, choose VAT, save
3. Then click on the + icon again, and choose Bank Deposit, to show that the money went into your bank account
4. Choose the correct bank account on the top left corner, choose the date when the money actually hit your account
5. For Received from choose the correct supplier, for the account choose Creditors, put the amount in, choose No VAT
6. On the Supplier's page create cheque
7. Add both the deposit and the supplier credit from the right side to link them (this shows QuickBooks, that the supplier credit has been used, and money was received from the supplier), save and close
8. Match the deposit against the transaction on your banking screen

1 reply

A
Ashleigh1Answer
September 22, 2021

Hello Shemwaks, 

 

Welcome to the Community page, 

 

Here are the steps you would need to do. 

 

Refund from your suppliers

 

1. Create a supplier credit (+ icon -> supplier credit)
2. Choose the correct date and supplier and expense account, put in the amount, choose VAT, save
3. Then click on the + icon again, and choose Bank Deposit, to show that the money went into your bank account
4. Choose the correct bank account on the top left corner, choose the date when the money actually hit your account
5. For Received from choose the correct supplier, for the account choose Creditors, put the amount in, choose No VAT
6. On the Supplier's page create cheque
7. Add both the deposit and the supplier credit from the right side to link them (this shows QuickBooks, that the supplier credit has been used, and money was received from the supplier), save and close
8. Match the deposit against the transaction on your banking screen

E
emilytoddy
March 5, 2024

I have a credit note from a supplier for an invoice i have already paid for.

 

For example I had an invoice from a supplier on 06/11/2023 and paid it at the end of the month. I have paid this off and cleared it down with the amount paid to the supplier matching my bank account.

 

Forward to Dec and a credit note has come through for a part of this invoice. Its been taken into account on the suppliers statement. For example the latest statement is for £1000.00 but the invoices come to £1100 with the £100 credit note on there!? So my balance to match the bank statement is £1000 but i have this credit note to account for!? How do i do this? 

 

Thanks

 

C
customers signature show on th
March 5, 2024

Hello there, Emilytoddy!

 

Thanks for sharing your concern about recording a credit note from a supplier in QuickBooks Online (QBO). I can offer some information to guide you in accomplishing this.

 

Here's how:

 

  1. Click + New.
  2. Choose Supplier credit.
  3. In the Supplier drop-down menu, select your supplier.
  4. Depending on how you record purchases with this supplier, enter the Category details or Item details. This can be the category, product, or service you’re getting credit for.
  5. Click Save and Close.

 

If you want to gain a better understanding of this process, please refer to the following article: Enter supplier credits and refunds in QuickBooks Online.

 

Some additional information can be beneficial for you later on through this article: Enter bills and record bill payments in QuickBooks Online.

 

Let me know if you have further questions by leaving a reply below.

Terms & ConditionsAccessibility statement