Vendor credit

zengfangping · ‎March 29, 2022

Hi Everyone,

A vendor gave us a credit towards our bill that we owe to them. How should we create the credit in QB Enterprise 21？Should we create a journal entry to set the credit? or to write a check Thank you for your help!

LeizylM · ‎March 29, 2022

Welcome to Community, zengfangping.

I'm here to make sure you'll be able to create the credit in QuickBooks Desktop.

You can create a bank deposit affecting the account payable to the vendor. I'll show you how:

Select Make Deposits from the Banking menu.
In the Payments to Deposit window appears, select OK.
Select the Received from the drop-down in the Make Deposits window and choose the vendor who sent you the refund.
Choose the appropriate Accounts Payable from the From Account drop-down menu.
Enter the amount of the Vendor check in the Amount column.
(Optional) Enter a memo, check number, payment method, and class.
Select Save & Close.

Once done, follow the same steps to link the deposit to the Bill Credit:

Click on Vendors at the top menu bar.
Select on Pay Bills.
Choose the bill that you wish to be paid.
Click the Set Credits button at the bottom to apply for credits.
Once done, click on Pay Selected Bills.

You may also read through the following links for more insights about handling credits:

Additionally, I'm attaching this link that you can utilize for future reference. This contains details on how to ensure your accounts are well organized: Reconcile an account in QuickBooks Desktop.

Be sure to let me know if you have any other questions about paying bills. I got you covered with any QuickBooks concern. Thanks for coming to the Community, wishing you continued success.

View solution in original post

LeizylM · ‎March 29, 2022

Welcome to Community, zengfangping.

I'm here to make sure you'll be able to create the credit in QuickBooks Desktop.

You can create a bank deposit affecting the account payable to the vendor. I'll show you how:

Select Make Deposits from the Banking menu.
In the Payments to Deposit window appears, select OK.
Select the Received from the drop-down in the Make Deposits window and choose the vendor who sent you the refund.
Choose the appropriate Accounts Payable from the From Account drop-down menu.
Enter the amount of the Vendor check in the Amount column.
(Optional) Enter a memo, check number, payment method, and class.
Select Save & Close.

Once done, follow the same steps to link the deposit to the Bill Credit:

Click on Vendors at the top menu bar.
Select on Pay Bills.
Choose the bill that you wish to be paid.
Click the Set Credits button at the bottom to apply for credits.
Once done, click on Pay Selected Bills.

You may also read through the following links for more insights about handling credits:

Additionally, I'm attaching this link that you can utilize for future reference. This contains details on how to ensure your accounts are well organized: Reconcile an account in QuickBooks Desktop.

Be sure to let me know if you have any other questions about paying bills. I got you covered with any QuickBooks concern. Thanks for coming to the Community, wishing you continued success.

zengfangping · ‎April 02, 2022

Appreciate for your help!

LeizylM · ‎April 02, 2022

Hi, zengfangping.

It's my pleasure to help you. Always remember that we're open 24/7. That said, you can post any QuickBooks concern here in the Community.

We're happy to help at any time. Take care always.

glbenson · ‎May 16, 2022

Hi,

I tried this and I get a Warning error that won't let me "Set Credits". It states "You can't set discounts or credits to pay bills through QuickBooks Bill Pay Service".

Please advise.

ZackE · ‎May 16, 2022

Thanks for joining this thread, glbenson.

I can certainly understand how an ability to apply discounts and/or credits when paying bills online could be useful and have submitted a suggestion about it as of today.

You can also submit your own feature requests while using QuickBooks.

Here's how:

In the top menu bar, go to Help, Send Feedback Online, then Product Suggestion....
Choose a Type of Feedback and Product Area (optional) from your available drop-down menus.
Enter any suggestions/feedback in the Here is my suggestion: field.
If you'd like, include your name/email in the My name is: (optional) and My e-mail address is: (optional) fields.
Select Send Feedback.

Your feedback's definitely valuable to Intuit. It will be reviewed by our Product Development team and considered in future updates. You can stay up-to-date with the latest news about your product by reviewing Intuit's Product Updates webpage.

Please don't hesitate to send a reply if there's any questions. Have an awesome day!

glbenson · ‎May 16, 2022

Hi,

This isn't a new feature. I'm getting an error with the existing feature.

When I go to Pay Bills --> Choose Bill --> Click "Set Credits". it gives me an error message. This isn't a new product feature request.

hvanek · ‎June 02, 2022

I am also experiencing this error. Was a fix ever found?

Tina MM · ‎June 09, 2022

I had the same problem. I had my user access changed to "External Accountant." Works fine now.

RWTWDW · ‎August 01, 2022

I had this issue too and was beyond frustrated. It turned out to be the simplest fix (which is usually the case in these situations). When you are on the "Pay Bills" screen, look below the "Set Credits" button, there is a "Payment" section. For me, the payment method in the drop-down list had somehow been changed to "Schedule Online Payment". Just change the method to "Check" and poof, I could apply my credit! This is one of four forums about this issue that I've been on today looking for a solution, and NONE of them was any help at all... I hope this helps everyone else! I am also going to post this on the other 3 forums as well. Please respond and let me know if it doesn't work for you.

DaybreakDan · ‎September 10, 2022

Actually - this is a HUGE problem an failing of Quickbooks. Quickbooks does not allow application of vendor credits or disounts in Pay Bills if you want to use their "online bill pay" service. Horrible software.

Henney Builders · ‎January 10, 2023

THANK YOU!!!!! I couldn't figure out why I was suddenly getting this message after using "discounts" forever!

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