I have to pay a bill to a vendor in quickbooks online. However there is one glitch. I owe the vendor $972.15 They are paying tax on a purchase so $208.52 needs to come out of the money that I owe them and then I can write the check for them. How do I do this in Quickbooks online so that it shows properly for the accountant? I have an account for sales tax on outside purchases and thus when I run the report it needs to correctly reflect the money I collected from this transaction. I tried writing a credit memo.. nothing. Please advise.
create the invoice for what you are selling, receive payment in full on that invoice and deposit to a cash type bank account
then, assuming you have entered the vendor bill, in pay bills select the bill, set the pay from account to cash, enter the amount of the customer invoice and save. back in pay bills select the bill and pay the balance due
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