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Level 2

How do I apply a credit amount to the amount owed to vendor?

Hello.  Our company purchases and sells equipment.  I have a vendor that is a customer as well.  How can I apply this vendor's credit to our customers (they are the same people) invoice?  Yikes!!  That was a loaded question.

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Best answer 03-20-2019

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Level 9

How do I apply a credit amount to the amount owed to vendor?

Please see your Accountant, this is contra-accounting, it is complex and needs to be done in a specific multi-step way that non-Accountants are not trained to do.

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Highlighted
Level 9

How do I apply a credit amount to the amount owed to vendor?

Please see your Accountant, this is contra-accounting, it is complex and needs to be done in a specific multi-step way that non-Accountants are not trained to do.

View solution in original post

Highlighted
Level 2

How do I apply a credit amount to the amount owed to vendor?

He suggested credit & payment go through a Clearing Account/Bartering Account in Bank Type Accounts.   Thank you for the direction.  I was trying to figure it out by myself.  :0)

Highlighted
Level 9

How do I apply a credit amount to the amount owed to vendor?

My pleasure, your time is valuable and your Accountant will always be there to help you solve these more complex problems. I'm so glad he was able to give you good guidance. :)

 

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