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Best answer July 31, 2022
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You're on the right track in recording your vendor credit, @allen25glenn. Good job on that!
Thanks for conveying the complete scenario. I'll share additional information about handling Petty Cash in QuickBooks Online. This way, I can guide you accordingly.
The credit will be transferred directly to that account if you pay the bill with a Petty Cash account. That said, you don't need to add the vendor credit from Petty Cash.
Here's how to check:
- Go to the Expenses tab and select Vendor.
- Click the vendor name and open the Bill Payment.
- Check the Bank/Credit account field.
- Modify it if need be.
To check your vendor credit, go as follows:
- Go to the Accounting tab and select Chart of Accounts.
- Locate and open the Petty Cash account.
- Review the transactions.
Additionally, regularly reconciling your petty cash account is a good idea. Once you do, you can move your paper slips to your long-term record keeping because the transactions are in QuickBooks.
Furthermore, check out these articles below to know more about handling vendor credits and other related topics:
Please do not hesitate to ask your questions in the Community. You are always welcome to join us. Keep safe.
You're on the right track in recording your vendor credit, @allen25glenn. Good job on that!
Thanks for conveying the complete scenario. I'll share additional information about handling Petty Cash in QuickBooks Online. This way, I can guide you accordingly.
The credit will be transferred directly to that account if you pay the bill with a Petty Cash account. That said, you don't need to add the vendor credit from Petty Cash.
Here's how to check:
- Go to the Expenses tab and select Vendor.
- Click the vendor name and open the Bill Payment.
- Check the Bank/Credit account field.
- Modify it if need be.
To check your vendor credit, go as follows:
- Go to the Accounting tab and select Chart of Accounts.
- Locate and open the Petty Cash account.
- Review the transactions.
Additionally, regularly reconciling your petty cash account is a good idea. Once you do, you can move your paper slips to your long-term record keeping because the transactions are in QuickBooks.
Furthermore, check out these articles below to know more about handling vendor credits and other related topics:
Please do not hesitate to ask your questions in the Community. You are always welcome to join us. Keep safe.
