Payments
I appreciate you for joining this thread, @randialynch. I'll make sure you can record the overpayment from your vendor and apply it to any future bills in QuickBooks Online (QBO).
We can record this as a vendor credit in QBO. Let me walk you through the steps:
- Open your QBO account, then click the (+) New button.
- Choose Vendor credit.
- In the Vendor dropdown, select your vendor.
- Depending on how you record purchases with this vendor, enter the Category details or Item details.
- Fill in the necessary information.
- Select Save and close.
Then, you can apply a vendor credit toward any open or future bill. When you’re ready to use the credit, follow these steps to proceed:
- Click the + New button.
- Choose Pay bills.
- Select a bill for your vendor from the list. You'll see the available credit with this vendor in the Credit Applied field.
- Complete the rest of the fields like you normally do when recording bill payments.
For more information about this process, you can refer to this article: Handle vendor credits and refunds in QuickBooks Online.
In case you want to record a vendor refund in QBO, you can follow the steps outlined in this article: Enter a refund from a vendor.
Additionally, you may open this article to view details on how to run a particular report that will reflect all payments made to vendors: Run a report with vendor totals.
Please let me know if you have additional questions or concerns about handling overpayments in QBO. I'll be here every step of the way. Keep safe!
