Unapplied supplier credits

JayC · ‎March 10, 2019

I am new to QB and (inadvertently) entered supplier bills as expenses for the first three months. I have a few credits from that supplier in that period which are all showing as Unapplied. The supplier does not actually owe me any refund as I paid the correct amount owing at the end of each month, however because I entered the bills as expenses, there was no invoice to pay the supplier at the end of the month and therefore I did not (could not) allocate those credits. So now it is saying I have a negative supplier balance for the start of the new month when actually it should be £0.00.

Will I have to remove all those expenses and re-enter them as bills or (hopefully) is there another way to zero the supplier balance?

JayC · ‎March 16, 2019

If I enter the bill backdated, then I'll end up with the same expense on QB twice - I have already put the bill down as an expense (and marked it as paid by credit card) so to enter it again would put my accounts out, wouldn't it?

View solution in original post

Kristine Mae · ‎March 18, 2019

Hey there, JayC.

Yes, it will put your accounts out. Since you've created an expense transaction already, creating a bill with the same account will double the amount.

You can delete the expense transactions, then create a bill instead. This way, you can properly record the supplier's invoice and your payment.

First, here's how to delete the expense:

Open the transaction.
Click More, then choose Delete.
You'll receive a message, "Are you sure you want to delete this?", click Yes.

Then, here's how to create a bill:

Click the Plus sign (+) icon.
Choose Bill.
Fill in the necessary fields.
Click Save and close.

Lastly, here's how you can pay the bill:

Click the Plus sign (+) icon.
Choose Pay Bills.
Choose the bills, then enter the payment.
Choose the correct bank account, then click Save and close.

I've got you an article as a reference: How to enter and pay bills.

Of course, you're always welcome to visit us if you need our help. Have a good one!

View solution in original post

Rustler · ‎March 12, 2019

I'm a little confused on how you did this.

A negative balance for a supplier has to mean when you made the payment you used accounts payable as the expense for the check. - true?

if that is the case, enter the bill backdated, then in pay bills select the bill and apply the credit. The bill needs to use the expense account or item detail for what you bought.

or

you can edit the payment, delete the line that has accounts payable, and use the actual expense account or item details you need to for that purchase.

sorry I can not help with VAT

JackS · ‎March 12, 2019

Thanks @Rustler for the advice. You can't help with the tax as you're from across the pond, right?

@JayC are you able to confirm if you made the payment you used accounts payable as the expense for the cheque?

Thanks

JayC · ‎March 16, 2019

As the invoices (bills) were entered as expenses, rather than bills, I just marked them as paid (at the time of entering them) with my credit card - which the final monthly statement is paid by eventually. I guess because I paid them and then received credits for some (for returned goods), my credit card balance is incorrect. I don't actually tally the bank accounts and card accounts with QB at the minute, so perhaps that is where my problem is.

JayC · ‎March 16, 2019

If I enter the bill backdated, then I'll end up with the same expense on QB twice - I have already put the bill down as an expense (and marked it as paid by credit card) so to enter it again would put my accounts out, wouldn't it?

View solution in original post

Kristine Mae · ‎March 18, 2019

Hey there, JayC.

Yes, it will put your accounts out. Since you've created an expense transaction already, creating a bill with the same account will double the amount.

You can delete the expense transactions, then create a bill instead. This way, you can properly record the supplier's invoice and your payment.

First, here's how to delete the expense:

Open the transaction.
Click More, then choose Delete.
You'll receive a message, "Are you sure you want to delete this?", click Yes.

Then, here's how to create a bill:

Click the Plus sign (+) icon.
Choose Bill.
Fill in the necessary fields.
Click Save and close.

Lastly, here's how you can pay the bill:

Click the Plus sign (+) icon.
Choose Pay Bills.
Choose the bills, then enter the payment.
Choose the correct bank account, then click Save and close.

I've got you an article as a reference: How to enter and pay bills.

Of course, you're always welcome to visit us if you need our help. Have a good one!

View solution in original post

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Unapplied supplier credits