I entered Vendor Credit to the credit the account the original was posted to. Then I did bank deposit to AP account for the amount of the refund. How do I link the vendor credit in quickbooks online that I entered and Bank Deposit for the amount was refunded. If I look at Vendor is shows total of -2000.00 instead of zero. Up in the Vendor balance on top left side it shows zero so I am confused why 2 different balances and why I can not link CM? please help
No I did all the steps but still shows zero up in top corner of vendor but a -2000.00 under bottom total for vendor.
This what happened. The vendor gave us 1000.00 ck refund for an assets we purchased last week because did not come with certain part. I processed a credit memo to negative the asset account, in vendor (shows -1000.00) then did a bank deposit with the account AP, that create in Vendor Account -1000.00 That is where the -2000.00 . So if you look at total for vendor at bottom it shows -2000.00. could it be correct with zero on top left corner for vendor but a negative amount in vendor total ?
Yes, that's right! The information in the top corner is that open and overdue balance for that specific vendor. It is showing zero since the credit, and the deposit was already linked. While the negative amount at the bottom is the total of all the vendor transactions.