Returns?

[storesstores]

I am a distributor so I keep inventory.

I buy some stuff from Costco.

I had some stuff in my inventory that I just returned to Costco for credit.

How do I account for this in QB?

How do I take it out of my inventory?

How can I show the credit from Costco?

[Joe Williams]

Open the Enter Bill screen and check the selection for Credit. Then fill it out just like a bill. Use COSCO as the vendor and enter the items, quanity and amount of teh return. This reduces inventory for those items and post a credit to the COSCO vendor that youi can apply on the next bill payment to COSCO.
If you paid for it with a credit card and they refunded on the Credit Card, use the Rnter Credit Card charges and click the Credit and fill it out like trhe normal credit card charge. That does the same thing for credit card refunds.