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vendor credit balance inquiry
11/3/09 5:48 PM
Total Views: 22
Total Views: 22
I have some old invoices and credits open on a vendor account, some from past years. I would like to clean it up, apply the credits, but I will be left with a credit balance and will not be getting a refund. I should create an invoice to offset this credit balance, right? Is this now considered an expense? What expense account should I use for this transaction?
All Replies: Answers (1)
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Answer
11/3/09 6:20 PM
Yes you should create a bill to offset the credit. You can use the account on the credit for the bill. You best bet is to ask your accountant what account to use.
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
Ray White
http://community.intuit.com/me...
http://www.raywhiteenterprises.com
Ray White
http://community.intuit.com/me...
http://www.raywhiteenterprises.com
