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Join nowWelcome to Community, @Russ_Young.
I have some information about entering vendor credits. For QuickBooks, you'll need to go pay the bills to apply the credits. Let me walk you through the process.
Another way is to open the bill from the vendor profile, just go to the Expenses tab and then Vendors.
For more information about vendor credit, check out this guide: Enter a credit from a vendor.
I'm also attaching this handy article about vendor reports for additional reference. It contains steps on how to get a report on all money paid and the appropriate customization made on the report.
Let me know if you still have questions or concerns. I'm more than willing to answer them for you. Take care and stay safe.
Hi Shiella,
Thank you for your assistance with this! Unfortunately, I am still encountering the same issue I was prior to asking the Community for help. When I hit “Pay Bills” and associate the amount of the vendor credit I want with each bill when I hit "Save" QB assumes I want to actually pay the balance of each, which isn’t the case. I simply don’t want the credits to appear on the A/P aging by themselves and unassociated from the invoices they relate to. I hope this makes sense.
Thank you, again!
Thanks for getting back to us, @Russ_Young.
Vendor credits are credits that you receive from your vendor, and is treated as an equivalent of physical cash that the vendor owes you. This helps you track the money you're owed until it is either paid by said vendor at a later date.
You can click the Bill and select Mark as Paid from the drop-down. Make sure that the Bill and Vendor Credit are selected so the amount at the top right will be zeroed out so no payment will be scheduled in Bill.com.
To mark the bill as paid, here's how:
Let me add the article about entering a credit from a vendor.
For more reference, you can use the following link to learn your way around with QuickBooks Online: Video tutorials.
Fill me in if you have additional questions. I'm always here to help. Wishing you all the best.
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