An invoice form a vendor is posted in the amount of $1000 and $800.00 of that is already paid and posted. The balance of $200.00 is waived by vendor. How can I write off this $200.00 in Quick book? Thanks EdR
If the Vendor Bill is still "waiting" in your Pay Bills screen, put a check next to it and click the Set Discounts button below the list of payables. When the Discounts window opens, put in $200 and offset it to whichever account on your Chart of Accounts would reflect vendor discounts - A Cost of Goods or an Income Account.
Hope this helps.
CDX
