Hi there, @kenb.
Thanks for visiting the Community. I'm able to walk you through the steps in creating a vendor credit in QuickBooks Desktop.
When you need to refund a vendor for a returned product or services, creating a debit memo (vendor credit) is an option. You can use this to make a payment to open purchases in QuickBooks.
Here’s how to create a vendor credit:
For more information, check out this article: Record a vendor refund in QuickBooks Desktop.
That should get you pointed in the right direction. Post again in the Community if you need additional assistance, I’m always here to help. Take care and have a good one!
Good day, kenb,
Please follow these steps below to print the vendor credit you created:
Have a great week! Let me know if you need anything else.
Hi there, @flynch.
Removing vendor credit in QuickBooks Desktop (QBDT) is just a few clicks. I'm happy to walk you through the steps to accomplish this.
You can remove the vendor credit by going to the vendor's transaction list in your account. Please follow the steps below depending on your scenario.
Remove a credit from an invoice, here's how:
Here's how for bill:
For extra information, visit this article: Remove or apply credit from an invoice or bill.
Additionally, you can always access the Transaction Detail report to review the unapplied or remaining credit of your clients. Let me show you how:
For more details about customizing reports, check out this link: Customize reports.
I've also shared this article about handling vendor information, transactions, reports, and other similar matters: Expenses and vendors.
Should you need anything else, please let me know in the comment section. I'm here to give answers and resolutions. Keep safe always.
I have an inventory vendor credit memo. I want to reduce my inventory value, and don't want to create a negative expense. I don't want to force an entry in the inventory asset G/L, that will throw off my subledger.
I'm here to help you reduce your inventory value, HidowDoug.
You can use the inventory value adjustment feature in QuickBooks Desktop to reduce your items.
However, before doing so, I'd suggest working with your accountant. They'll be able to help you on how to record an entry without throwing off your sub-ledger.
As an initial step, you'll need to create an account to track your adjustments. Here's how:
Once done, you can proceed in adjusting your item's value:
You can get more details about this in this article: Adjust your inventory quantity or value in QuickBooks Desktop. This will give you more tips about adjusting your stock of finished goods as well as steps in pulling up a report to check your inventory status.
Also, you might find this article interesting: Fix negative inventory issues in QuickBooks Desktop. You'll find steps on how to review negative stocks and tips to prevent them.
Feel free to get back to me if you have any questions or need further assistance with anything in QuickBooks. I'll be right here to assist you anytime. Have a nice day!