Enter a credit from a vendor (if one does not already exist): 1. Select the Vendors menu and select Enter Bills. Select the Credit option in the Enter Bills window.

Issuing vendor credits and refunds. From the article: If the refund is for returned inventory items, you'll need to create a vendor credit. Scenario 2: Pay bills using vendor credits Select the Plus Icon (+) at the top then Vendor Credit.

Enter the necessary information in Vendor, Date and Credit Amount fields. (You may also enter enter a reference number if you want to track credits by number.) 4. Enter on the Expense or Item Tab exactly as the original bill was entered, including Customerjob and/or class if applicable. Click Save & Close. Deposit the refund: 1. Select the Banking menu and select Make Deposits.

If the Payments to Deposit window does not pop up skip to step 5. If the Payments to Deposit window opens, select the payments you would like to deposit and click OK. In the Make Deposits window, select the account you would like to deposit into. Click anywhere below the last payment in the list to add an entry. In the Received From column, enter the name of the vendor from whom you received the money. In the From Account column, select Accounts Payable. (This will create a vendor bill that you will use later.) 7.

Enter a memo, the check number if you received a check, and the method of payment such as a check, or credit card. Enter the amount. 2010 outlook for mac. If you use classes, enter the class for this deposit. If applicable -Steps 9 & 10 are instructions for overpayment of a refund amount due 9. If the vendor has issued a refund exceeding the amount owed to you as a credit, enter the over payment on the next line of the deposit using the vendor's name, and the account you would usually put bills toward this vendor and the amount. (Follow this step only if step 9 is performed.) If step 9 is not performed, continue to the next section, and write a check to the vendor for the amount of the overpayment and use the account from step 9 in the expense account section. Apply the vendor credit to the vendor refund: 1.

Select the Vendors menu and select Pay Bills. The vendor refund you deposited will appear as an open bill in the Pay Bills window along with any other open bills. Click to the left of the bill to place a checkmark. Click Set Credits.

Click to select the credit(s) you want to apply to the bill (refund), and then click Done. The amount to be paid is reduced by the amount of the credit(s) applied or paid in full if that is the case. Click Pay & Close. If you feel this post is the best solution for your issue please click on the solved button below my post, contact a ProAdvisor directly or continue asking questions in the forum. Thanks for your post, we care about your issues and gladly offer our time to attempt to solve them. People come to Accountants Community for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses.

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