How do I record negative Vendor bill?
If it’s for vendor’s (or supplier’s) credit bill:
- Click Create “+” sign in the middle (see attached screenshot below for reference)
- Select “Vendor Credit” under Vendors
- It will leave credit balance on Accounts Payable under Vendor’s Name.
How do I add a credit for a vendor (supplier) without any open bills? I also like to see this credit in Vendor’s Center.
It involves three steps process.
Step # 1
Issue Vendor Credit
(+ sign > Vendor Credit under Vendors)
Make sure to use the same account originally used
Step # 2
Deposit refund to the bank
(+ sign > Bank Deposit under Other)
Received From = Vendor’s Name
Account = Accounts Payable (A/P)
Step # 3
To clear A/P as Bill payment (step # 1 and step #2)
Why step# 3 > step # 2 bank deposit does not apply to specific bill
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