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I have received a refundin the form of a cheque from a vendor who will no longer be a supplier. Therefore,I do not want the credit to be applied against future bills since there will not be any.
How do I record receipt of the credit as a refund and depositied to the bank?
deposit the check and use other income as the source account
if there is a current vendor credit in QB, deposit the check and use accounts payable as the source, on the same line in the customer name column select the vendor name, then use pay bills, select the "bill" the deposit created and click apply credits and pay the zero bill
deposit the check and use other income as the source account
if there is a current vendor credit in QB, deposit the check and use accounts payable as the source, on the same line in the customer name column select the vendor name, then use pay bills, select the "bill" the deposit created and click apply credits and pay the zero bill
I have followed these steps and it clears everything out but my Vendor Account. It still shows the credit that was generated. Can anyone help me with this?
I, too, have followed all the steps and cleared out the account but at the bottom of the ledger, it shows a credit, sometimes a double credit - how do I clear that out, or does it even make any difference??
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