Hello,
You can create a credit memo in QuickBooks Online to apply the vendor credit to the invoices you want to pay. Here are the steps to do this:
Create a credit memo: Go to the Plus (+) icon at the top of your QuickBooks Online dashboard and select "Credit Memo" under "Customers."
Select the vendor: Choose the vendor from the "Customer" dropdown list.
Enter the credit details: Enter the details of the credit, such as the amount and the reason for the credit.
Apply the credit: In the "Apply to" section, select the invoices you want to apply the credit to. The credit will be applied to the selected invoices, reducing the amount due.
Save the credit memo: Click "Save and Close" to save the credit memo.
Once you have created the credit memo, you can apply it to the payment you make to the vendor. Here are the steps to do this:
Create a payment: Go to the Plus (+) icon at the top of your QuickBooks Online dashboard and select "Expense" under "Vendors."
Select the vendor: Choose the vendor from the "Payee" dropdown list.
Enter the payment details: Enter the details of the payment, such as the payment amount and the payment method.
Apply the credit: In the "Add to Expense" section, select the invoices you want to pay. If you have already created the credit memo, the credit will be automatically applied to the invoices, reducing the amount due.
Save the payment: Click "Save and Close" to save the payment.
By creating a credit memo and applying it to the payment, you can ensure that the vendor credits are correctly applied to the invoices you want to pay.
Thanks & Regards
Maroon Corporate Solutions.
For any further queries you can contact us.
