Supplier Credit Note Against Stock Adjustment

Found it thank you very much.

I'm glad to hear everything worked out well, Mark Armistead.

You're always welcome to post your other concerns here in the Community. I'll be around if you still need help. Take care and have a wonderful day!

Can you record on quickbooks when a stock item has been returned to the supplier and you are awaiting a credit so stock is always correct and you can see anything you are awaiting a credit for?

Yes, we can, gemwhite.

Let's record a supplier credit in QuickBooks Online. Doing so ensures the credit hits the expense account you use for the transaction. Here's how:

1. Go to + New and then select Supplier credit.
2. Add your supplier.
3. Choose Item details and enter the necessary amount.
4. Select Save and close.

Once you receive the refund, we can track it as a deposit: 

1. From + New, select Bank deposit.
2. Choose the account where you got the refund.
3. In the Add funds to this deposit section, fill out the following fields:
   Received from: Select the supplier who gave you a refund.
   Account: Choose Accounts Payable.
   Payment method: Enter how they paid you.
   Amount: Enter the amount of your refund.
4. Select Save and close.

After that, link the two transactions to keep your expenses accurate:

1. From + New, select Pay bills.
2. Select the bank deposit you created. You’ll see the amount in the Credit Applied field. The Total payment should be £0.00.
3. Click Save and close.

There are other ways to record credits in QuickBooks. To learn how, please see this article: Enter Refunds in QuickBooks Online.

Furthermore, I've included an article that'll help you track your best sellers, what’s on hand, and more: Stock Reports.

I'm only a few clicks away if you need additional assistance tracking your supplier transactions and managing your stocks. I'd be glad to help you out. Stay safe!