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How to apply vendor credit in QuickBooks desktop

How to apply vendor credit in QuickBooks desktop


How to apply vendor credit in QuickBooks desktop.

When you apply for a credit line with a vendor, you may be asked to complete a credit application. The credit application will ask for your company's name, address, Dun & Bradstreet number, and other basic information. After you submit the credit application, the vendor will review it and let you know whether you've been approved for a credit line. If you're approved, the vendor will tell you the maximum amount of credit that has been extended to your company. You can then use this credit limit to purchase goods or services from the vendor.


When you are ready to apply credits in QuickBooks follow these steps:

1. From the Vendor menu, choose Apply Vendor Credits.

2. In the Vendor Credit field, choose the vendor whose credit you want to apply.

3. Enter the amount of the credit you want to apply in the Amount field.

4. If you want to apply the credit to a specific invoice, enter the invoice number in the Invoice Number field. If you don't have an invoice number handy, you can click on Lookup and choose an invoice from a list.

5. After you have completed all fields, click on Save & Close."


And that's it, it's that easy to apply vendor credit in QuickBooks desktop!

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