How to Record Vendor Credit in Quicken
Introduction
Record credit from vendors in Quicken for situations such as returned goods or billing errors.
Procedure
Access Vendor Transactions:
- Open the Account for the vendor.
Initiate Credit Entry:
- Select the Account Actions icon .
- Choose New Credit to open the credit form.
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.
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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