Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowHow do I remove unused credits from years ago? The person who was in this position before me created a bunch of vendor credits but never applied them--they instead changed the bill amount and paid it correctly.
We are using Desktop Pro 2018 and are on a cash basis.
Hi there, @brey.
Let me walk you through the steps to remove the unused vendor credit. You can delete it in the Vendor Center. Here's how:
To ensure it won't affect your closed books, I recommend consulting an accountant.
You may use this article in case you need help customizing vendor reports to pull up a specific statement you're looking for: Customize vendor reports.
If you have any concerns, feel free to leave a message below. I'm only one call away to help you. Keep safe.
Wouldn't this affect the tax return expenses for the prior year? I did a J/E debiting the A/P and crediting the expense acct. It puts the credit as a bill to be paid. I don't want to have to adjust past years. I'm wanting to have adjusted showing current year. How can I adj the credit in current year without it showing back up on Bills to be paid.
Hello, @McBeng.
I can provide solutions for adjusting credit without showing backup paid on bills for tax return expenses in QuickBooks Desktop.
It seems like the reason for this issue you are facing is that you might have mistakenly adjusted or written off the vendor credits on bills, and while creating a Journal Entry, you selected the wrong posting accounts.
To record a transaction, follow these steps:
1. Select the Account field and choose Accounts Payable from the dropdown list.
2. Enter the amount under the Credit column and move to the Name column. Select the vendor name from the dropdown list.
3. In the next line, pick the Offset Account and enter the amount under the Debit column.
I suggest that you get in touch with your accountant for further guidance or explore other available options to resolve the issue.
I'll add an article that you may use in case you need to customize reports in QuickBooks Desktop: QuickBooks Desktop allows you to customize any report that you generate.
Feel free to leave a comment below if you have any questions about adjusting your credit for the current year. I'm always around here to help.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here