Apply, refund or void a vendor credit

Apply credit to an open bill

1. Open Expenses & bills, then Vendor credits.
2. Open a vendor credit with an amount in Not yet used.
3. In Apply to a bill, choose the Bill.
4. Check the Amount and Date.
5. Select Apply credit.

Applying posts nothing, because the vendor credit already debited Accounts Payable. The bill's balance due goes down and the bill shows as Partial, or Paid when nothing is left to pay.

Only that vendor's approved bills that are Pending, Partial or Overdue with a balance are listed. The amount can't be more than what is left on the credit or the bill's balance. The date can't be before the vendor credit or the bill. In Nonprofit, a vendor credit applies only to the bill it came from.

You can also start from the bill. When the bill is open and the vendor has credit not yet used, the bill shows a Vendor credits card with Apply credit. It uses the oldest open vendor credit and today's date, or the credit's date if that is later.

In General, you can also use a vendor's open credit while paying: on Pay bills, select Use credit in the bill's row. The oldest open credit is used first. Voiding that payment makes the credit available again.

To take a credit back off a bill, select Remove beside it under Applied to bills. The amount returns to the vendor credit and the bill's balance goes back up. Nothing posts.

A bill can't be voided while any vendor credit is applied to it. It also can't be voided while a vendor credit recorded from it is still active, even if that credit is unused. Its Void Bill option stays hidden until you remove the applied credit and void the vendor credit recorded from the bill, as described below.

Record a refund from the vendor

Warning

Recording a refund posts a journal that adds the money to the account you choose. Check that the money has arrived first.

1. Open the vendor credit.
2. Select Record a refund from the vendor.
3. Enter the Date and choose the account in Deposited to.
4. Check the Amount.
5. Enter a check number in Check or reference if you have one.
6. Select Record refund.

The refund debits the bank or cash account and credits Accounts Payable. You can record up to what is left on the credit, dated on or after it. Refunds need Create payments to vendors.

When the deposit shows up on your bank feed, link the bank line to the refund rather than categorizing the line, which would post the refund a second time. QixCount never links a refund on its own. You confirm it in one of two places:

• In Bank transactions, QixCount proposes the refund's entry as a pair when the deposit is exactly the refund's amount, went into the account the refund was recorded in and is dated within three days of the refund. Select Confirm pair with your entry on the line. Nothing new posts.
• In a reconciliation, select the link icon in the bank row's Match column to open Suggested Matches. A deposit of exactly the refund's amount, in the account the refund went into, lists it as Refund from vendor credit with the vendor credit number. Select Accept.

A refund is matched to one whole bank line. It can't be matched for part of a line or together with other records. Voiding a matched refund releases the match, and the bank line comes back for review.

A refund lowers that vendor's automatic 1099 total for the year of its date, and shows in the form's payment list as a refund. A voided refund stops counting. This guide explains how QixCount works. It isn't tax, legal or accounting advice.

To undo a refund, select Void beside it, enter Why and select Void refund. This reverses the refund's journal and needs Delete payments made.

Void a vendor credit

Warning

Voiding reverses the vendor credit's journal on today's date. You can't restore a voided vendor credit.

1. Remove each application and void each refund on the vendor credit.
2. Select Void this vendor credit.
3. Enter Why.
4. Select Void vendor credit.

Voiding needs Void bills. The option appears only when nothing is applied or refunded; until then, a note in its place says what to remove or void first. A closed or locked period can block the reversal.

Correct the vendor credit or refund on this page. Its journal cannot be reversed separately in Journal entries.

Vendor credit statuses

Accounts payable aging subtracts applied credit from each bill. When Show is All Outstanding and you haven't selected a bucket, it also notes the credit not yet applied below its table.