I followed the directions I found to enter a vendor credit, I am not sure what account to put it under so I just used ask my accountant. I don't show any credits when I go to set credits to pay a bill. I am not sure what I have done wrong to not show any credits. I have tried different account to see if that would make it show up but it doesn't.
When a Vendor gives you a credit it is usually for something you had returned. If that is the case then you simply use the account such as materials or office supplies.
Now, to see if we can find that credit. "Vendors" "Vendor Center", Go to the Vendor. In the Box to the right under the "Transaction" Tab is "Show", schroll down and click on "All Transacations". Then search for the credit. Once you find it then double click on it. Click on the tab above in "Reports" then click on "Transaction History". This will show what happened to that credit.
If the credit had somehow been attached to another bill, then go to the credit, click from credit to bill, then back to credit. This is the only way I know to disconnect the credit from the bill.
I followed your instructions but I have a question: wouldn't you think that after 18 or 19 years of Quickbooks desktop, there would be a simple way to search for a payment, double click on it, see the invoices that were paid AND a line item that shows the credit amount that was used in this payment?
I followed your instructions but I have a question: wouldn't you think that after 18 or 19 years, the VIPS at Quickbooks Desktop would have developed a simple way for customers to find a vendor's payment, double click on it, see what invoices were paid AND also see what credit was applied in this payment?
You'll want to create a bill to record a vendor's credit. Once it's paid, you'll see the available credits at the bottom of the screen. I'll walk you through how.
To create a vendor's credit:
To apply the credit to a bill:
Once done, you can pull up the Transaction List by Vendor report to see the vendor's payment, bill, and the credit's applied.
Additionally, you can find these transactions in the vendor's profile. The credit is posted in the Balance Total column.
I've added these articles for future reference:
The Community is always here if you have other questions. Please don't hesitate to reach out anytime.
It's nice to see you here in the Community, CrossingsT.
I'm here to help you go over to your credit and have it applied to your vendor bill in QuickBooks Desktop. Let's get this sorted out.
The credit will still show on the report even if it's already tied to a bill or not. To better isolate the issue, you may want to check the Transactions History of the credit and see if it's applied to a bill.
If you want to un-apply the credit from the bill, you can follow the detailed steps in this article: Remove or un-apply a credit from an invoice or bill.
If you require more information about the vendor credits in QuickBooks, you’ll find detailed instructions by pulling up the article in your company file. Just press F1 on your keyboard.
For additional help, you can also reach out to our QuickBooks Desktop Support.
You can always get back to me if you need more help vendor credits in QuickBooks Desktop. I'd love to help.
Thank you for the quick response. When I look at the transaction history - it says there isn't any for this credit, and it doesn't show up when I click on pay bills. However, it does show up in bill tracker as a credit and when I look under the vendor it shows that there is a credit but not that it has been paid/deposited.
Thanks for the update on this goes, @CrossingsT1.
You should be able to set the vendor credit on the Pay Bills screen even if it's not yet deposited into your bank account.
Let's enter those transactions using a sample file to isolate the issue.
You can always use and play around with the sample file to test transactions that aren't working on the original file.
If that works, then transactions on the original company file may be damaged. You need to run the verify and rebuild utility to resolve data issues.
If the same issue persists, your QuickBooks company file is already affected. Thus, you need to clean install to replace the QuickBooks system files on your computer.
To do so, please follow the solutions outlined below:
Step 1: Make sure a clean install is right for you.
Step 2: Gather info and back up your data.
Step 3: Uninstall QuickBooks Desktop.
Step 4: Download and install the QuickBooks Tools Hub.
Step 5: Run the Clean Install Tool.
Step 6: Reinstall QuickBooks Desktop.
Please follow this article on how perform each steps above: Clean install QuickBooks Desktop. This page provides a detailed solution and additional information to help you with the process.
Let me know how everything turns out. If you're getting the same result, leave a comment below so we can try other steps to resolve this.
Hmm....this doesn't make sense to me. The funds have already been deposited. We received an electronic credit from a vendor. So, I followed the steps in help file/instructions. I recorded the deposit, created a credit and then tried to do the last step. The credit shows up in the vendor's list, but not in the list to pay bills, so I can't associate the deposit with the credit for this vendor.
Hi there, @CrossingsT1!
You'll have to select your Accounts Payable account for your deposit so you can successfully record your vendor's credit. I'll be happy to help you accomplish this.
To start with, upon depositing your vendor's credit, you'll have to select your account's payable account. This way, it'll be recorded as an available credit to be applied as payments for your bills. To do that:
Onde completed, here's how you can link the deposit to your vendor's credit:
After following the steps above, you can now successfully pay your bills with your vendor's credit you just recorded.
To add, here's an article you can read to learn more about how to record a vendor's credit and link it to your bills: Record a Vendor Refund in QuickBooks Desktop.
Also, I've added one of our helpful article that'll help you handle your future tasks about recording your vendor's credit: Transfer and Apply Credit from one Vendor to Another in QuickBooks Desktop.
If there's anything else that I can help you with, please let me know in the comment section down below. I'll be always around ready to help.