zenxeno.blogg.se - Where is set credit vendor in quickbooks for mac

Step 4: Create a Journal Entry to move the credit from the clearing account to the vendor Navigate to the Credits tab and then choose credit.Choose the bill that the Journal Entry created (It will show up without any due date).From the Vendors menu, click on Pay Bills.Step 3: Apply the credit to the Journal Entry created as an unpaid bill

This clearing account should be the one you created in step 1.

You need to debit the Clearing account in the second line.

Choose the vendor from whom you are getting the credit under the Name column.

You need to credit Accounts Payable with the amount that will be entered in the first field.

From the Company menu, select Make General Journal Entries.

Step 2: Create a Journal Entry to move the credit from the existing vendor to the clearing account To get detailed instructions regarding creating accounts, go to Set up a clearing account.

The Opening Balance field can be left blank.

Click on the Account Name section and assign Clearing Account, Barter Account, or Wash Account.

From the Add New Account screen, choose Bank.

From the drop-down options, select New.

From the Lists menu, choose Chart of Accounts and right-click on the window.

The clearing account is used to move existing credit from one of your vendors: You just need to perform following steps carefully to transfer and apply credit from one vendor to another one.

This article will help you with the process to complete this task properly. QuickBooks Desktop comes with an option to transfer available credits from one vendor to another by using a temporary clearing account.