How to Record Vendor Credit in Quicken

Introduction

Record credit from vendors in Quicken for situations such as returned goods or billing errors.

Procedure

1. Access Vendor Transactions:

   • Open the Account for the vendor.

2. Initiate Credit Entry:

   • Select the Account Actions icon

     

     .
   • Choose New Credit to open the credit form.

3. Complete the Credit Form:

   • At the top, select or enter the Vendor Name.
   • Optionally, assign the credit to a project/job:
     • Choose Assign Project/Job.
     • In Select Project/Job, pick or add the project/job.
   • In the line items, enter the Expense Category and Credit Amount.

4. Save the Transaction:

   • Select Save. This records the credit, reducing the amount owed.

Apply Existing Credits: When paying this vendor next, select Apply Existing Credits to reduce the bill.

Existing Credits: These are amounts credited from transactions like overpayments or credit memos.

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