0
In accounting, the deduction of a payment made by a debtor from an amount due. In the General Journal Entry window, you enter credits in the Credit column.
An example would be if the electric company gave your business a $50 credit off your bill (instead of a $500 bill, you would have a $450 bill).
What else can I help you with?
Does Quickbooks automate billing?
Yes, automated credit card billing is available for the 2008 Quickbooks and newer. This will allow for automatic charging of a customer's credit card.
How do you change a customer to a vendor in QuickBooks?
You cannot change an account type from customer to vendor. You need to create a new vendor using a slightly different name than the one you use for the customer account.
How does Quickbooks help with credit card payment processing?
The computer software program QuickBooks helps with businesses with credit cards processing by allowing the business to receive credit card payments from customers through Intuit Merchant Services, which will then be recorded in the business's QuickBooks program as the payments having been made.
Is a Credit balance in vendor subsidiary account is an unpaid balance?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
What are the forms in quickbooks?
Quickbooks forms include sales receipts, purchase orders, invoices, statements, credit memos, estimates, and sales orders.
How do I perform QuickBooks credit card reconciliation efficiently and accurately?
To perform QuickBooks credit card reconciliation efficiently and accurately, follow these steps: Match credit card transactions in QuickBooks with your credit card statement. Verify that all transactions are accurately recorded in QuickBooks. Reconcile any discrepancies between the two records. Use the reconciliation tool in QuickBooks to help streamline the process. Regularly review and reconcile credit card transactions to ensure accuracy and financial health.
How can I pay a vendor using a credit card?
To pay a vendor using a credit card, you can provide your credit card information to the vendor either online, over the phone, or in person. The vendor will then process the payment using your credit card details.
Does Quickbooks automate billing?
Yes, automated credit card billing is available for the 2008 Quickbooks and newer. This will allow for automatic charging of a customer's credit card.
How do you change a customer to a vendor in QuickBooks?
You cannot change an account type from customer to vendor. You need to create a new vendor using a slightly different name than the one you use for the customer account.
How does Quickbooks help with credit card payment processing?
The computer software program QuickBooks helps with businesses with credit cards processing by allowing the business to receive credit card payments from customers through Intuit Merchant Services, which will then be recorded in the business's QuickBooks program as the payments having been made.
How to reconcile credit card transactions in QuickBooks?
To reconcile credit card transactions in QuickBooks, go to the Banking menu and select Reconcile. Choose the credit card account and enter the statement date and ending balance. Match the transactions in QuickBooks with those on the credit card statement, marking them as cleared. Once all transactions are reconciled, click Finish Reconciling to complete the process.
Is a Credit balance in vendor subsidiary account is an unpaid balance?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
What are the forms in quickbooks?
Quickbooks forms include sales receipts, purchase orders, invoices, statements, credit memos, estimates, and sales orders.
What does alternate tender mean for a credit card transaction?
An alternate tender means for a credit card means a vendor or purchaser presents an alternate form of payment.
Why any credit balance in a vendor subsidiary account is an unpaid balance owed?
A credit balance in a vendor subsidiary account indicates that the vendor has received more payments than the amount owed for goods or services provided. This typically means that the vendor has a credit on their account, which can be considered an unpaid balance because it represents funds that the vendor may need to refund or apply to future invoices. Hence, the credit amount is essentially a liability for the vendor until resolved.
What account is debited when a company returns merchandise to a vendor on credit?
credit
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
