Try the QuickBooks Online Course for Free!

Create a Vendor Credit in QuickBooks Online- Instructions

/ / Latest, Quickbooks Online
Create a Vendor Credit in QuickBooks Online- Instructions: A picture of the “Vendor Credit” window in QuickBooks Online.

Create a Vendor Credit in QuickBooks Online: Overview

            You can create a vendor credit in QuickBooks Online to return an item to a vendor or enter a credit for overpaying an earlier bill. To create a vendor credit in QuickBooks Online, click the “+ New” button in the Navigation Bar. Then click the “Vendor credit” link under the “Vendors” heading in the drop-down menu to open the “Vendor Credit” window.

            Select the name of the vendor from the “Vendor” drop-down. The vendor’s mailing address should appear in the “Mailing address” field. Enter the date of the credit into the “Payment date” field. To enter a reference number for the vendor credit, if needed, type it into the “Ref no.” field. Fill out the remaining fields in the upper portion of the vendor credit, like “Tags” or “Location,” if enabled, as needed.

Create a Vendor Credit in QuickBooks Online- Instructions: A picture of the “Vendor Credit” window in QuickBooks Online.

Create a Vendor Credit in QuickBooks Online- Instructions: A picture of the “Vendor Credit” window in QuickBooks Online.

          If not returning items or services from your “Products and Services” list, then use the “Category details” section to select to which account to apply the vendor credit. You most often select the matching account from the original bill for which you received the vendor credit. Alternatively, if returning items or services from your “Products and Services” list, select the items to return from the “Item details” section, instead. To enter a note about the vendor credit, type it into the “Memo” field. To attach a file to the vendor credit, use the “Attachments” field.

            In the toolbar at the bottom of the window, you can cancel the vendor credit by clicking the “Cancel” button. To create a recurring vendor credit, if needed, click the “Make recurring” button. This is not often needed by most businesses. To save the vendor credit and then open a new window or close the window, click or select a choice from the “Save and new / Save and close” drop-down button in the toolbar in the lower-right corner of the window.

Create a Vendor Credit in QuickBooks Online: Instructions

  1. To create a vendor credit in QuickBooks Online, click the “+ New” button in the Navigation Bar.
  2. Then click the “Vendor credit” link under the “Vendors” heading in the drop-down menu to open the “Vendor Credit” window.
  3. Select the name of the vendor from the “Vendor” drop-down.
  4. The vendor’s mailing address should appear in the “Mailing address” field.
  5. Enter the date of the credit into the “Payment date” field.
  6. To enter a reference number for the vendor credit, if needed, type it into the “Ref no.” field.
  7. Fill out the remaining fields in the upper portion of the vendor credit, like “Tags” or “Location,” if enabled, as needed
  8. If not returning items or services from your “Products and Services” list, then use the “Category details” section to select to which account to apply the vendor credit. You most often select the matching account from the original bill for which you received the vendor credit.
  9. Alternatively, if returning items or services from your “Products and Services” list, select the items to return from the “Item details” section, instead.
  10. To enter a note about the vendor credit, type it into the “Memo” field.
  11. To attach a file to the vendor credit, use the “Attachments” field.
  12. In the toolbar at the bottom of the window are buttons you can use to manage the vendor credit.
  13. To cancel the vendor credit, click the “Cancel” button.
  14. To create a recurring vendor credit, if needed, click the “Make recurring” button. This is not often needed by most businesses.
  15. To save the vendor credit and then open a new window or close the window, click or select a choice from the “Save and new / Save and close” drop-down button in the toolbar in the lower-right corner of the window.

Create a Vendor Credit in QuickBooks Online: Video Lesson

            The following video lesson, titled “Entering a Vendor Credit,” shows you how to create a vendor credit in QuickBooks Online. This video lesson on how to create a vendor credit in QuickBooks Online is from our complete QuickBooks Online tutorial, titled “Mastering QuickBooks Online Made Easy.”

TOP
Sale! 50% OFF! 1 Days 0 Hours 18 Minutes 4 Seconds      Quick Reference Guides
See Deals