A credit issued to my company
SteveF123
Member Posts: 3
How do I issue my company a credit, and then use that credit to pay for other items purchased?
0
SteveF123
Member Posts: 3
How do I issue my company a credit, and then use that credit to pay for other items purchased?
Comments
Hi @SteveF123 . Can I get some more information on your situation here? Why exactly is this being viewed as a credit, and what are you purchasing with it? Let me know!
Good day sir! I purchased some items from a supplier, and some of the items I found out later were wrong, so I returned them. The company issued me a credit (I had paid for the parts with a check). Now, I've purchased other parts from the company, and they are using the credits I have accrued to pay for a portion of the last purchase I made with them. I would like to know how to do this through accounting strokes. Hopefully that clarifies it a bit.
Hey @SteveF123 , the way we typically recommend handling this is to mark these credits in your Bill. When you're creating a Bill in Wave for your supplier, you can put the entire product price in the Bill and then an additional line item called something like 'Credit Note'. You can then add the amount that was deducted (for example: -100) which should take it off of the total amount of your Bill.