![]() ![]() If you need to pass this to the customer on the next invoice or as a reduction on a sales receipt, mark it Billable. Now you can list the Items here, and job track it. This one is a bit complicated.You never use a JE when Names are involved.Ī Vendor Credit is an Enter Bill, changing it to Credit/Return. And on the bank feed, you will then need to select Vendor and for Category, select Accounts Payable (A/P). ![]() ![]() It looks simple to me.īut if you're creating Vendor Credit, we can handle that too, just use the same for account category (Other Currents Assets). Are you getting a bank deposit or credit/refund on a credit card? In either case, you will need to use one account category to add a transaction, just use the Other Current Assets account per example. You actually don't need to issue Vendor Credit. But other then that yes I got the charter account part now & using it to match the received funds seems like you're making this more complicated than it needs to be. In this case since bank deposit don't actually have a credit card account to choose from, not sure how that part would work. Hope this would i be able to deposit the vendor credit tho? since its a credit card purchase/refund, usually I do vendor credit, then bank deposit to deposit the credit so i can match it with a bank feed to complete the credit. I notice making a credit card credit would not work since you need to input a qty higher then 0 which mines has nothing returned, so only other way out i can think of is just categorizing it within the feed without a match. My question is the credit within the credit card bank feed. Month later, i got a credit/discount from the same vendor, without having to return the item they gave me a price match discount since i paid a much higher price at the time of ordering. Then PO/Expense it out using that product. Hope this have my product expense account to "Cost of Good Sold" & inventory as "inventory asset" when creating the product/service. That account should have zero balance with "in and out" transactions now. Use New account "Credit/Refund Receivable" for $200 in this example. "My question is the credit within the credit card bank feed" This entry shows although you originally paid $1,000, $800 for purchased items and vendor owes you $200. Name something like Credit/Refund Receivable.) Account and Detail type = Other Current Assets. Category Details section = $200 for refund/receivable from Vendor (create a new account.Item Details section = $800 total for inventory items (this is your revised new inventory cost).Go back to your original entry and make an adjustment: Let's say for this example, you paid $1,000 total for inventory items.Īnd now, they gave you a $200 credit/refund. What you need to do is edit your original entry. "How to record credit/refund back from inventory purchase" Have my product expense account to "Cost of Good Sold" & inventory as "inventory asset" when creating the product/service. ![]()
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