Is there a way to change the default folder for Supplier Credits? At the moment my GBP supplier credits go to my Opening Balance Equity account.

Great to see you again in the Community space, Sean

When setting up a supplier credit in QuickBooks Online (QBO), the amount will reflect both on your Creditors and the category account you used. 

If you select the Opening Balance Equity account, the amount will reflect both with your Creditors. If you wish to change the account affected to your supplier credit, you'll want to modify it to your preferred account. I'll show you how.

1. Locate and open your Supplier credit.
2. From the Category detail section, modify the account under the CATEOGRY column. 
3. Review the changes and click Save and new or Save and close.

You can also check out this article for reference in seamlessly handling your supplier refund: Record a customer refund or supplier refund in QuickBooks Online.

Furthermore, I'd suggest working with your accountant for guidance. This way, we can ensure the accuracy of your accounts after making these changes. 

Once everything is in place, you might want to check this video tutorial for reference in case need to match your supplier refund and credit: How to match supplier refund to supplier credit.

You can always count on me if you need more help managing your supplier credits and creditors account. Simply tag me in your reply and I'll get back to you as soon as possible. Stay safe!

Hello JasroV,

Thanks for helping again. Unfortunately, I wasn't clear enough. I have already selected the Category as you suggest and this reflects correctly in my books (Expense account). My question is regarding the other entry (if you think of it as double entry bookkeeping). The other, QBs automated entry, goes to the Creditors side of the books like you said, but for some reason mine goes to the Opening Balance Equity (OBE) account. This is a Creditor/accounts payable account so my books as a whole balance, but it is the wrong account, so I would like to change it. I could edit the Deposit to go to OBE so that my separate accounts also balance, but I think this would be two wrongs making a right. I presume the Creditor account selection is automated but this is why I ask, just in case if it can be changed.

As you saw my other post, you can probably see I'm trying to guess why this is happening, and I thought allocating my original Creditors account (for Supplier Credits) as a foreign currency may have thrown the system a little. My first Supplier Refunds were US dollars; US Dollar account Supplier Credits work perfectly, GBP ones don't. If you have any insights that would be great, otherwise I'll just let my accountant know (if he spots it!). 

Thanks again, Sean

Thanks for adding details and sharing your thoughts about this, @sean-tlysolution.

I'll be helping you to sort this further.

Yes, you're correct that QuickBooks default entry should account for the Creditors' account and not the Opening Balance Equity account. Take a look at this screenshot for visual reference when I open a transaction journal report from two bills with different currencies:

In this case, I want to review more details about how you created the transaction from bill/expense to apply for supplier credits and the account setup for Opening Balance Equity. You can provide screenshots for visual reference so we can come up with a specific resolution.

Here's how to view an account detail in your Chart of accounts:

1. Click the Gear icon on the top right.
2. Select the Chart of accounts.
3. Find the account in question (Opening Balance Equity) and click the Triangle button from the Action column.
4. Click Edit to view the setup.

Additionally, you can check this guide on entering a refund from a supplier for more details about recording a supplier credit.

I'll wait for your reply here and answer them back. If you have additional questions, feel free to place them below. Take care always.

Hello @sean-tlysolution,

I have reviewed the solution you’ve shared and it's correct and accurate. Thank you for sharing your inputs to help address the issue.

We love to see members supporting one another! Have a great day.