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Join nowHello hunsuckerjk,
Let me guide you on how to apply the vendor credit to your cash account.
Since you've received a cash refund for the returned items, you'll have to enter a deposit transaction to your cash account. Then, link the deposit to the vendor credit.
Here's how:
To deposit the cash refund to the cash account:
To link the deposit to the vendor credit:
Here's an article for more the detailed steps: Handle vendor credits and refunds.
That should do it. If you need any further information, please don't hesitate to leave a comment below. I'm always happy to help.
This only works if you have an outstanding balance. It does not work if you paid your bill and then returned items and received a credit to your account. I can't find anything for a refund from a vendor when there is no outstanding balance (refund for damaged goods/ returned goods etc)
Hi there, @cipgifts.
The steps provided by my colleague can still work even when there's no outstanding balance in your account. The bank deposit is used to track the refund. Since you can't enter inventory in a deposit, you need to create a vendor credit to record the returned items.
For additional reference, you can visit the QuickBooks Blog to see the latest product enhancements that you'll find beneficial for your business.
Thank you for reaching out to us. Please let me know if you have any questions. I'll be happy to help you out.
There is no way to match it to the vendor credit. The vendor balance is off as a result.
Hello cipgifts,
Thanks for joining this conversation. I'm here to lend a hand in matching the deposit to the vendor credit.
You need to enter a bank deposit and post it to Accounts Payable. Then, we have to create a dummy bill to match the deposit and vendor credit. This will remove the incorrect balance on your vendor's profile.
Here's how:
To create a dummy bill:
To link the deposit and the vendor credit:
You can always go back to the article I provided above for further guidance.
This should answer your concern for today. I'd appreciate if you can let me know how these steps work for you, so I can help if there's anything else you need. Have a good one.