Whether you’re getting a vendor credit for a refund or a return, you can record it in QuickBooks Online.
When you’re dealing with your company’s vendors, you’re probably accustomed to money flowing in one direction: theirs. Maybe you send them purchase orders and they send you invoices. Or they send you bills and you pay them. Or you walk into a store and buy something your business needs.
Sometimes, though, vendors owe you money. Probably the most common scenario is a return of merchandise, products that you’ve sent back to the supplier for any of a variety of reasons. You may be issued a credit of some kind simply because you’ve been a loyal customer, and a vendor wants to reward you. [Read more…] about What Is a Vendor Credit, and How Do You Record One?