Question

What are the two ways to use a vendor credit in QuickBooks Online?

1) Apply the vendor credit to an open bill
2) Create a refund for the vendor credit
3) Convert the vendor credit to a customer credit
4) Delete the vendor credit

Answer 1

In QuickBooks Online, there are two ways to use a vendor credit: apply it to an open bill or create a refund for the vendor credit.

Step-by-step explanation:

In QuickBooks Online, there are two ways to use a vendor credit:

1. Apply the vendor credit to an open bill: This option allows you to use the vendor credit amount to reduce the balance owed on an open bill from the same vendor. You can apply the vendor credit directly to the bill by selecting the option to apply credits during the payment process.
2. Create a refund for the vendor credit: If you want to refund the vendor credit amount to the vendor, you can create a refund transaction. This would be useful when the vendor is not expecting any further payment or when you have already made a payment for the same bill.