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JeanneIvo
Level 1
posted
‎February 24, 2022 01:35 PM
last updated ‎February 24, 2022 1:35 PM

Vendor Credits and using them properly

I just switched to QB online from the desktop version.  My biggest problem is that we pay most of our bills off of statements that can have dozens of invoices and credits.  In the desktop version, I could choose exactly the credit I wanted to use.  Online, it appears that I can only choose an amount.  Further, the program seems to deduct that amount from the oldest credit instead of matching an existing credit amount.  This is going to cause me all kinds of headaches as we don't always receive credits in a timely manner.  It was ok (but so much more work) doing the first round of bill statements, but now credits that I know I have used show as still available for use and the older credits no longer show on the Vendor Balance Detail report so I don't know what I really have outstanding. Have a missed an important detail on how to use QB Online to pay bills or is this a nightmare from which I'll never wake?

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1 Comment 1
Rasa-LilaM
QuickBooks Team
QuickBooks Team
‎February 24, 2022 07:02 PM

Vendor Credits and using them properly

Thank you for dropping by the Community today, JeanneIvo.


I’m glad to know you’ve switched over to QuickBooks Online (QBO). Let me help and point you in the right direction on how to properly handle your vendor credits.


When moving from QuickBooks Desktop (QBDT) to the online platform, some transactions don’t come over to the latter. If the refund is from a bank, refund receipts convert to credit memos and checks.

 

If the transaction is from a different account, it will convert to a general journal entry. You can read through this article for more details: Limitations when you convert from QuickBooks Online to QuickBooks Desktop.


Aside from tracking sales, you can easily record business expenses. If you plan to pay for the expense in the future, enter it as a bill. Otherwise, utilize the Cheque and Expenses feature to record for services or items paid on the spot.


For tips on when to enter the mentioned transactions, click here to view the article. It includes some links on how to perform the processes in the online platform.


Since the information on your Vendor Balance Detail report doesn’t show the correct credits, I recommend contacting our QBO Care Team for further assistance. One of our specialists will perform a screen-sharing session to check why you still have available credits for the ones used. Then guide you on how to fix your records including the older transactions that are missing from the report.


Here’s how:

 

  1. Click the Help icon in your company and select Contact us.
  2. Enter a brief description of your concern in the field box.
  3. Choose to connect with our live support  and tap Start a chat.

 

For future reference, the links below will walk you through the steps on how to handle supplier credits and pay your bills.

 

 

Also, these online tutorials contain videos to get acclimated to the tasks you can do in your company. 

 

Reach out to me again if you have additional questions on how to manage your vendors’ transactions including their credits. I’ll be around to help and get this taken care of for you. Have a good one.

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