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Level 2

Bought Coupon That Gives Me Vendor Cash Credits - how to record?

Hi,

 

I buy $25 coupons that give me $500 worth of credits with Vendors.  The credits are good as cash with the Vendor.  How do I enter them in QB?  And how do I apply the cash credits to services  I use with the Vendor?  Scratching my head on this one.  Thanks!

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Best answer April 28, 2020

Best Answers
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QuickBooks Team

Bought Coupon That Gives Me Vendor Cash Credits - how to record?

Hi @BigDog1,

 

You can create a Bill credit to record the coupon then apply for the credit when you pay a future bill from the vendor. Let me walk you through the steps on how to do it.

 

Here’s how to record a bill credit:

  1. Click Vendors at the top menu and select Enter Bills.
  2. In the Enter Bills window, select the Credit radio button.
  3. Enter the credit details and click Save & Close.

 

To apply for the credit: 

  1. In the Pay Bills window, select Show all bills.
  2. Choose the specific AP account.
  3. Put a checkmark on the deposit you've recorded.
  4. Click Set Credits.  
  5. In the Discount and Credits window, choose the Credit tab.
  6. Put a checkmark on the credit that you've created.
  7. Click Done.
  8. Hit Pay Selected Bills.

 

Also, I’m adding this article about more ways to record vendor credits: Record a vendor refund in QuickBooks Desktop.

 

If you have other questions about applying credit to your vendor payments. I’m always here to help.

View solution in original post

2 Comments
Highlighted
QuickBooks Team

Bought Coupon That Gives Me Vendor Cash Credits - how to record?

Hi @BigDog1,

 

You can create a Bill credit to record the coupon then apply for the credit when you pay a future bill from the vendor. Let me walk you through the steps on how to do it.

 

Here’s how to record a bill credit:

  1. Click Vendors at the top menu and select Enter Bills.
  2. In the Enter Bills window, select the Credit radio button.
  3. Enter the credit details and click Save & Close.

 

To apply for the credit: 

  1. In the Pay Bills window, select Show all bills.
  2. Choose the specific AP account.
  3. Put a checkmark on the deposit you've recorded.
  4. Click Set Credits.  
  5. In the Discount and Credits window, choose the Credit tab.
  6. Put a checkmark on the credit that you've created.
  7. Click Done.
  8. Hit Pay Selected Bills.

 

Also, I’m adding this article about more ways to record vendor credits: Record a vendor refund in QuickBooks Desktop.

 

If you have other questions about applying credit to your vendor payments. I’m always here to help.

View solution in original post

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Level 2

Bought Coupon That Gives Me Vendor Cash Credits - how to record?

Thank you so much MaryAnn_E!  This worked for me.  Many, many thanks! Stay in, stay safe!

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