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Level 2

How to record payments for netted invoices against a credit balance?

I'm trying to figure out how to record a payment against several bills when the payment amount is less than the total amounts of those bills combined but still paying off the bills because the vendors gave us a credit for a previous bill that we overpaid. 

 

bill 1: $100

bill 2: $100

bill 3: $100

credit amount: $20

 

When we paid the vendor, we paid  ($100 + $100 + $100) - $20 = $280. So how should I record the $280 payment against those 3 bills? Because if I check them, one bill will be short of $20 and will not appear as "paid". 

 

Thank you.

 

 

Solved
Best answer December 28, 2018

Best Answers
QuickBooks Team

How to record payments for netted invoices against a credit balance?

Hi there, TracyT!

 

Good for you that you got credits from your vendor. I wish I'd receive one before December ends.

 

Have you recorded the $20-credit already? If you haven’t, you can go to Vendors, select Enter Bills and click the small Credit radio button just above the Bill word. Enter the details of the credit and save the transaction.

credit.JPG  

When you pay your bills, select all three of them and click the Set Credits button to use the $20-credit you entered. Then, select it in the Discounts and Credits window, and click Done. That will do it.

applying the credit to the bill.JPG paying 280.JPG

Feel free to go back to this thread if you have other questions in mind.

View solution in original post

2 Comments
QuickBooks Team

How to record payments for netted invoices against a credit balance?

Hi there, TracyT!

 

Good for you that you got credits from your vendor. I wish I'd receive one before December ends.

 

Have you recorded the $20-credit already? If you haven’t, you can go to Vendors, select Enter Bills and click the small Credit radio button just above the Bill word. Enter the details of the credit and save the transaction.

credit.JPG  

When you pay your bills, select all three of them and click the Set Credits button to use the $20-credit you entered. Then, select it in the Discounts and Credits window, and click Done. That will do it.

applying the credit to the bill.JPG paying 280.JPG

Feel free to go back to this thread if you have other questions in mind.

View solution in original post

Level 2

How to record payments for netted invoices against a credit balance?

This is awesome! Thank you, Jess!

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