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scb4nab5
Level 1

Ow do you apply a Vendor Credit Memo to a Journal Entry?

 
3 Comments 3
Regina_Lend_A_Hand_Accounting
Level 9

Ow do you apply a Vendor Credit Memo to a Journal Entry?

You cannot apply a vendor credit memo to a journal entry, they are meant to be applied to vendor bills.

Malcolm Ziman
Level 10

Ow do you apply a Vendor Credit Memo to a Journal Entry?

Assuming you credited AP/Vendor in the JE, you can create a zero Expense, where you check off one against the other

Regina_Lend_A_Hand_Accounting
Level 9

Ow do you apply a Vendor Credit Memo to a Journal Entry?

I think the question is why would they create a journal entry to Accounts Payable in the first place? I've seen this done with year-end journal entries when transferring from one accounting system such as PeachTree to QuickBooks Online, in order to establish the beginning trial balance for A/P for a new year in QuickBooks Online, but not as an everyday practice. They really should enter bills and credit memos the proper way.

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