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  #1  
Old 01-31-2012, 11:01 AM
garden state garden state is offline
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how do I apply a vendor credit to a bill

I entered a credit for a vendor, and when I go to apply it, the "set credits" button is grayed out.. i went into pay bills, as advised by someone else, selected bills to be paid with the credit, but the set credit button is gray no info is shown- it says 0.00 credits avail.
thanks
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  #2  
Old 01-31-2012, 12:33 PM
cojhl2 cojhl2 is offline
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Did you first go to "Pay Bills" and select 'credit'?

That's because in theory the Vendor sent you a credit memo..
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  #3  
Old 01-31-2012, 12:47 PM
garden state garden state is offline
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applying credit from vendor

yes- i went to pay bills.
then filtered by vendor
i see the open invoices, but do not have the option to set credits ...
i just tried this again, and it let me! I did the exact same thing before and it didn't give me the set credit option... does this happen a lot in quickbooks? this type of glitch?? (maybe the glitch is me- haha thanks)
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  #4  
Old 01-31-2012, 12:51 PM
garden state garden state is offline
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well... that didn't work... I see the credit that I entered, unapplied, and the "set credits" that I "set" with a check #. (there is no check, i'm just applying a credit to invoices to make a zero balance. i set the credits and entered it as check # "apply cm"
i deleted this transaction... how do i grab the credit memo that i made, and apply it to open invoices?
thanks agian
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  #5  
Old 01-31-2012, 01:35 PM
Deidre56 Deidre56 is offline
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do you see the credits when you click on the 'set credits' button. if so, the credit should already be selected and then you say 'done'. this will return you to the pay bill screen. that invoice has now been reduced by the amount of the credit. choose 'pay selected bills'. even though you are not technically paying anything. if you are forced to assign a check number just use a mock number to proceed.
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  #6  
Old 01-31-2012, 01:49 PM
garden state garden state is offline
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i see what i was doing- you can't hit the "select all bills" button- you have to individually select them with the pointer/check mark... when i individually selected them, the set credit button became active... thanks again!!
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  #7  
Old 01-31-2012, 03:02 PM
garden state garden state is offline
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For anyone else having this problem-

enter the credit in 'refunds and credits'

in the pay bills screen, click 1 invoice. then click set credits. another window will pop up, you hit done. click the next invoice you want to credit and repeat.

i thought quickbooks would do this all at once, but you have to individually go thru each invoice and apply the credit to it.

shew!
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  #8  
Old 01-31-2012, 09:52 PM
cojhl2 cojhl2 is offline
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I think the reason for that is because in the bookkeeping world credits are always applied to open invoices.

The idea of an general catchall credit does not exist even though one credit check can be issued to cover multiple bills(Vendor Invoices). But it always comes down to a granularity of a specific Vendor Invoice.
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  #9  
Old 02-01-2012, 08:13 AM
Deidre56 Deidre56 is offline
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That is what happened here. There was one credit to be applied to multiple invoices. You just cant select all the invoices you want to apply it to at one time. You have to do them one by one.
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  #10  
Old 12-27-2012, 01:05 PM
steveo91 steveo91 is offline
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Question

I have a vendor we purchase products from who also provides us with a credit card machine. When transactions occur we receive credits from them instead of getting paid for those transactions. How would I apply payments against customer accounts in quickbooks?
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  #11  
Old 12-28-2012, 03:46 AM
Joe Williams Joe Williams is offline
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You can set Preference > Bills to automatically apply vendor credits. It will apply the vendor credit when you select the bill.
There is also Preference > Payments to set automatically apply credit for Customer Invoices.
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  #12  
Old 12-28-2012, 09:27 AM
steveo91 steveo91 is offline
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vendor credit

I want to apply a vendor credit against a customer invoice. Does anyone know how to do that?
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  #13  
Old 12-29-2012, 02:47 AM
Joe Williams Joe Williams is offline
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Explain how you are going to do this.
Is the Vendor going to pay a Customer's invoice or is the Vendor also a Customer in QuickBooks?
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  #14  
Old 12-29-2012, 06:29 PM
steveo91 steveo91 is offline
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We buy products from a vendor and we also got a debit/credit machine from them. When transactions occur on the machine instead of getting paid for them the vendor gives us a credit . I don't know how to handle this in quick books it does not let you apply vendor credits to customer invoices
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  #15  
Old 12-30-2012, 01:51 AM
Joe Williams Joe Williams is offline
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So I understand, you purchase an item for 100.00 and sell it for 150.00. The vendor that you debit/credit machine from gives you a credit for the 150.00.
With that credit you pay them for the 100.00 owed to them and also need to pay the customer invoice for 150.00.
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