“Quicklet” - A Podcast for QuickBooks Pro, Premier, Enterprise Solutions & Point of Sale users featuring helpful information, tips, tricks and suggestions for bookkeepers, business owners, and consultants. Got a QuickBooks Mess? Ask The QuickBooks Gal!
Hi, I'm Jayne Miller, The QuickBooks Gal. Welcome to another in our series of “Quicklets” – informational podcasts about QuickBooks and related bookkeeping topics.
My office recently received a call from a client who had a bit of a mystery. Her previous bookkeeper had used part of a credit on a bill when she paid a vendor, leaving part of the credit remaining open and unapplied. She had no idea when this happened, which bill received the partial credit, and no clue how to research the history of transactions
She needed help finding the bill on which the partial credit was applied. While there may be other ways to find the answer, here's how we helped her find the answer:
1 - Go to the Vendor Center.
2 - Click on the Transactions tab.
3 - Select "Bills."
4 - Now click on the word "Type" to allow you to sort by type. This will group all Bills together and all Credits together.
5 - Now scroll down to the credit in question. Double click on it.
6 - With the "Enter Bills" window, open click on the "History" button. This will show you a transaction history for the credit, including a list of bills that it was applied to.
This is an easy way to see the activity and the application...try it the next time you need to find the original application of a partially applied credit.
As a bookkeeper, I generally don't apply partial amounts of open credits to my payments. The fact is that if I have more credits owing to a vendor than open invoices, I shouldn't be issuing a check in the first place. My policy is to hold the credit until it can be fully used on one check (preferrably one invoice).
I hope this is helpful and that you will keep this solution in mind next time you need to research the application of any vendor credit.
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Well, that’s it for now. I appreciate your time and hope you will join us again next time for another in our Quicklet© series. If there are topics you would like me to cover, send me an email at firstname.lastname@example.org. I welcome your ideas, questions, and comments.
Got a QuickBooks Mess? Call The QuickBooks Gal!
I’m Jayne Miller, The QuickBooks Gal. Thanks for listening.
Jayne Miller, is the owner of Custom Business Solutions, is a consulting firm in Reno, NV that specializes in providing bookkeeping and software support. © 2007