Sometimes dues to reasons such as returning the items purchased, or to make any tweaks in the bills, you may need to apply for credit from a vendor to a bill payment in QuickBooks. Yes, it requires a few in-depth instructions and understanding of the QuickBooks accounting program, but what are we here for? This article will closely assist you in this process. So let us start.
Steps to apply for credit from a vendor to a bill payment in QuickBooks
In this section of the article, we will look at the various steps that are required to apply for credit from a vendor to a bill payment in QuickBooks. Please follow the steps carefully and in the right order:
Steps 1: Let us enter the credit in QuickBooks:
The first step in applying for credit from a vendor to a bill payment in QuickBooks is to enter the credit. Here is how you can do it:
- Open QuickBooks.
- Click on ‘Vendor’ tab.
- Then select the option that says ‘Enter Bills.’
- You will find the credit option at the upper half of the window.
- Click on the ‘Credit’ option.
- A form will appear on your screen. Fill in the credit details like filling a bill.
- This will be saved in the ‘Account Payable’ account.
- This transaction can be looked up with the name- ‘BILLCRED’ in the account’s register.
Step 2: Let us apply the credit to a bill in QuickBooks:
Please follow these steps carefully in the right order:
- Open QuickBooks.
- Open the bill by clicking on the option that says- ‘Enter Bills.’
- Click on ‘Vendor’ option.
- Then please go to the ‘Pay Bills’ section.
Tip: You can search the vendor by ‘name.’ This step will allow you to see both the bill and the credit.
- Applying your credit will deduct the amount you have t pay.
In case you are not able to look up for your desired bill or the credit then please follow these steps:
- Go to the category that says ‘Show.’
- Then click on the option that says- ‘All Bills.’
Once you are done applying for the credit from a vendor to a bill payment in QuickBooks, click on the button- ‘OK’ to confirm the changes.
Tip: In case you don’t see the changes made in your QuickBooks application, refreshing the app can be helpful.
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