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gremoo
Level 2

Mastercard credit

I receive a credit on my mastercard from a vendor after the order is complete and paid for. How do I show those credits? Do I enter an invoice with a negative amount and clear it that way? Seems to me I attempted that and it didn't work. Any suggestions?

4 Comments 4
Adrian_A
Moderator

Mastercard credit

Hi there, gremoo.

 

You can record a vendor credit to keep track of the credit from your vendor. Once they generate a bill, you can use the credit to pay it.

 

Here's how to create a bill:

 

  1. From the + New button, select Vendor credit.
  2. Select your vendor's name.
  3. Enter the information either on the Category details or Item details field.
  4. Click Save and close.

 

I've added this article on how you can apply the credit: Applying vendor credits.

 

I'm just a post-away if you need help in applying the credit. Keep safe!

gremoo
Level 2

Mastercard credit

Thank you for that. I do not want to use or can not use the credit against another purchase but want it to show as a credit on my mastercard account. Any suggestions??

Mark_R
QuickBooks Team

Mastercard credit

I've got your back, @gremoo.

 

You can record the credit as a credit card credit to show it on your MasterCard account. Here's how:

 

  1. Go to the Banking menu, then select Enter Credit Card Charges.
  2. Select the MasterCard account from the Credit Card drop-down.
  3. Choose the Refund/Credit radio button.
  4. Select the appropriate vendor.
  5. Enter an appropriate memo to describe the transaction.
  6. If you returned Items, select the Item tab and enter the Items and Amounts from the refund.
  7. Go to the Expenses tab, select the appropriate Accounts and enter the Amount.
  8. Click Save & Close.

 

I'm adding this article for more guidance: Record a vendor refund in QuickBooks Desktop.

 

You might want to run a vendor report on QuickBooks Desktop. This allows you to view all your vendor transactions made in QuickBooks.

 

Keep in touch if you need any more assistance with this, or there's something else I can do for you. I'm always around if you need any help, @gremoo.

gremoo
Level 2

Mastercard credit

Thank you very much that! That worked perfectly.

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