applying check from vendor against credit memo in quickbooks for mac

Applying Check From Vendor Against Credit Memo In Quickbooks How To Create Vendor

Credit Card with mutiple Sub-Accounts asked by Cynthia Russomanno Missing bank transactions in QuickBooks.

The process of creating a vendor credit memo is almost identical to entering a vendor invoice.

The main difference is that the account payable lines will be entered with negative values.

If the amount of the account payable is negative, the invoice type will automatically switch to a credit memo.

Is there some way (even perhaps a slightly roundabout way) to apply that cash receipt to a credit memo.

The related GL accounts can just be a clearing liability account so that you dont actually record any revenues or expenses.

Once the payable is created, apply the vendor credit memo to it.

As we discussed in the prior movie QuickBooks allows you when youre paying pills to apply vendor discounts and credits.Now remember a credit is money due you from the vendor for a possible overpayment of an invoice or you returned a product you didnt really neat.

In addition to credits you also receive a discount from the vendor for early payment.

Applying Check From Vendor Against Credit Memo In Quickbooks How To Create Vendor

A discount is a fixedamount or percentage that you deduct from the amount that the vendor charges you.We talked about how to create vendor payment terms with discounts and how to make a vendor credit earlier in the title.But now we need to learn how to apply these credits and discounts to our bills.

In the Pay Bills window if you look at thebottom heres where you have Set Discount and Set Credits and again we would go through and select the vendors that werewanting to pay and then we can see the information that comes populated in the window and associated with this vendor.

I select the vendor and then I look across and see what information QuickBooks gives me.

Suzanne covers organizing inventory and non-inventory items and using the automated EasyStep interview.

Note: QuickBooks Pro 2008 is not currently available for the Mac.

If you are a Mac user you will be unable to open the exercise files for this tutorial, however you will still be able to watch the movies.

Applying Check From Vendor Against Credit Memo In Quickbooks For Mac