Everything I tried from other threads resulted excessive cost of goods sold and/or a negative balance on the vendor.
I entered my invoice for cost-of-goods-sold (COGS). My credit card was billed for $100 and I matched that to the invoice.
I was shorted $10 in cost-of-goods-sold and the vendor credited my credit card.
Option #1 I tried:
Under the vendor created "vendor credit" but there is no way to match the credit on my credit card to the vendor credit.
Option #2 I tried:
(+ > Vendor > Credit Card Credit) to COGS which I could match to the credit on my credit card but that left a negative balance on the vendor (but does adjust my cost of good sold account). If I create a bill/expense to offset the credit then my COGS account is off.
Option #3) Adjusted the original invoice (reduced for the credit due) which leaves a negative balance but can not match the credit on the account to the negative balance.
Option #4) Create a bill/expense for accounts payable then apply the credit to the vendor using cost-of-goods sold - it does not show up in my cogs chart of accounts, so my vendor balances to zero but my cost-of-goods sold is still over-stated.
Note: I do not use QBO for my inventory (it does not work for my needs) but I do use it for my vendor payments to show my total payments to cost-of-goods sold so it's important that account is adjusted for inventory not received/returned.
So how to I
1) Record that I am due a credit on that vendor
AND 2) Reduce my cost-of-goods sold
AND 3) end up with a zero balance for the vendor
It just does not make sense to me that a vendor credit can't be matched to a credit on a credit card.
