Quicken & Other Budget/Accounting Software/Quickbooks, credit to bill payment


QUESTION: I'm trying to apply a credit/refund to a purchase order. Currently I have already created the purchase order, received inventory, and now am trying to enter the bill against the inventory.
My problem is the supplier credited the purchase from a previous credit.
How do I account for this?

Thank you!

ANSWER: Sorry for the delay Ben,

Create the bill as if the supplier had not applied the credit
Then go to Pay Bill window
Select this newly created bill and then in the lower right click the apply
credits button. There should be a credit bill you have in your QuickBooks file
for the credit owed from the previous purchase.  In the set credit window, place a check
next to the credit and click ok.  If you are not ready to pay the balance of the bill
in the amount to pay column (far right of bill pay window) replace the balance with a zero.
Then Click Pay bills, This will link the credit with the newly created bill leaving an amount
to pay as the balance due when you are ready to pay the bill.

Let me know if this is not clear or you have additional questions.

Linda Saltz, CPA
Advanced Certified QuickBooks Advisor

[an error occurred while processing this directive]---------- FOLLOW-UP ----------

QUESTION: In regards to the last answer.

I am having trouble crediting the account for the supplier. I am going to the refunds/Credits window but, the Supplier isn't in the drop down window. I try to create one but, It won't allow a duplicate name.

So, what do you suggest to apply a credit for the supplier?

Thanks again

Hi Bill,

I may need more information from you. Which version of QuickBooks are you using?
The window you should be on if you are using the Desktop edition for the PC is
Vendor menu > enter bills.
On this screen you would choose the Credit radial button.
In this window you should see the vendor name ..... IF.... you had recorded the
purchase transaction on a bill.

Go to the vendor center and see if you do not see the name in that list.
If not,   Go to the list menu > other names list. Does the name appear there?
If it does,  edit that name and add a  {othername} to the end of it.  Once you
do that you will be able to create the vendor name on the vendor list since the
other names list has been altered.

Let me know how it goes.

Linda Saltz  

Quicken & Other Budget/Accounting Software

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Linda Saltz, CPA, QBalance.com


QuickBooks best practices, troubleshooting, accounting, tax We have over 70 pages of website content about QuickBooks tips, running a business, tax and business startup at http://www.qbalance.com


Accountant and CPA over 20 years. Specializing in accounting software for over 12 years, Certified QuickBooks Pro Advisor, QuickBooks seminar instructor since 1997.
Producer of www.QBalance.com over 100 pages devoted to QuickBooks help and support and training for small business owners in tax and accounting issues.

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