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• # 111795
• Wed 02 Dec 2015 12:37 PM

I have been using QBO for well over a year now and in general I really like the system, but one issue I always have is how it copes with supplier credit notes. I have always managed to make it work before but now I have an issue which has me stumped. I have done a live chat with QBO and I gave up in the end as they seemed to have less idea than me.

Senerio (round figures for ease!):

Supplier invoice on system for £50

Client pays the supplier £250 (don't ask!)

On a separate issue the supplier raises a credit note for £10

Supplier then repays £210 into clients bank account.

I now have a partially unapplied payment on the supplier account of £200, a credit note on the supplier account of £10 and a receipt on the bank downloads for £210. I cannot find any way of matching these 3 items off against each other. Currently tearing my hair out, does anyone have any experience of the same sort of issue?

Any ideas welcome :)

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• # 111796
• Wed 02 Dec 2015 06:46 PM

Hi Lara

Can't you just allocate the £250 to the £50 invoice, allocate the credit note and refund the £210. (Hope that makes sense)

Kind regards and very best wishes 

Elaine 

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• # 111797
• Wed 02 Dec 2015 07:52 PM

Don't yer just love QuickBooks sometimes !!

First of all - receive the payment from the bank feed into the supplier account by putting the account to either 'creditors' or 'accounts payables' depending on which QBO version you have. You will need to put your Supplier name in the Name field as well. (if you're told you must put a VAT code in - put it as 0% purchases)

Now this repayment amount will be reflected in the Supplier account as well.

Next......raise an invoice for £1.........I know you 'shouldn't' have to do this, but ..............it works.

Go to 'Make Payment' for the £1 bill........you will now be able to match off your payment receipt, the credit note and the unapplied part payment all in one as they'll all be showing in top bills box and bottom credits box.

Untick the £1 bill so that it's not selected, and make sure that the amount paid box is showing as Zero.

Save the transaction, then delete the £1 bill

Its messy - but hopefully it'll sort your problem.

• Carol Saunders
  Lady of Ledger Book Keeping
  Telford, Shropshire

  
  

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• # 111805
• Thu 03 Dec 2015 03:29 PM

Lady of Ledger said:

“

Don't yer just love QuickBooks sometimes !!

First of all - receive the payment from the bank feed into the supplier account by putting the account to either 'creditors' or 'accounts payables' depending on which QBO version you have. You will need to put your Supplier name in the Name field as well. (if you're told you must put a VAT code in - put it as 0% purchases)

 

 Hi,

If you do what Lady of Ledger says above and then post a new Expense, select supplier name. You should find all the transactions are listed on the right and if you bring them all in to the left you should find the net is zero and when you post it all transactions are allocated against each other.

This saves having to do a bill and then delete it

Dave

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