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Replying to:
LauraAB
QuickBooks Team

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Hi Franki44,

 

That's a great question. Clearing out these kinds of transactions is a good way to make sure your books are up-to-date and properly balanced. I recommend checking in with an accountant to see what the best way is to handle this scenario, but I'll let you know what options are available in QuickBooks Desktop for handling that kind of transaction.

 

On the transaction window of the vendor credit, you've probably noticed the Delete button in the toolbar. This is one way that you can delete the credit. Another option is clicking the drop-down arrow under the Delete button, which again gives you the option to Delete and also the option to Void. Choose whichever is most appropriate for your case. Deleting it would remove it from QuickBooks entirely. Voiding it keeps the transaction in your books while voiding it declares it as no longer legitimate.

 

If the vendor has given the company the money for the balance of the unused credits, that can be recorded as a cheque using the Write Cheques feature found on the home screen or under the Banking menu. If they haven't, consider the options in the Write off customer and supplier balances article.

 

In case you come across an instance in which a vendor credit was incorrectly applied, follow the step to remove or unapply a credit from an invoice or bill. You can also use our Find a ProAdvisor tool if you're in need of an accountant. Using your postal code to search your area, you can find one who knows QuickBooks Desktop.

 

I hope that helps. Enjoy the rest of your day. :)

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