cancel old bill
Rebecca
Member Posts: 34 ✭
Hi,
Over a year ago we received a bill for $1250 from a supplier for some advertising signage we wanted. I entered the bill like normal, and paid $250 as a deposit. A year later and the supplier has said they can't do our job and has refunded me the $250.
The open Bill over the last year has been bothering me and I just want to see it cancelled. How do I do this correctly?
My guesses???...
Enter a credit from the supplier for $1000.
Enter a second credit from the supplier for $250.
Deposit the refund of $250
I just don't know how it will all line up, I want the end result to be $0!
Thanks
Over a year ago we received a bill for $1250 from a supplier for some advertising signage we wanted. I entered the bill like normal, and paid $250 as a deposit. A year later and the supplier has said they can't do our job and has refunded me the $250.
The open Bill over the last year has been bothering me and I just want to see it cancelled. How do I do this correctly?
My guesses???...
Enter a credit from the supplier for $1000.
Enter a second credit from the supplier for $250.
Deposit the refund of $250
I just don't know how it will all line up, I want the end result to be $0!
Thanks
1
Comments
Yes you are on the right track just one more step - you raise the credit for $1250, when you do the deposit use the supplier name in the 'name' column - the 'account' is Accounts Payable, the amount of course is the $250 refund....then go to paybills, you will see the $250 (deposit) as a bill, click on the bill, then apply credit of $250.
Kim M: 0429 305300 E: [email protected]