Ensure that the Automatically apply payments option is turned off. Under Preferences, click Sales & Invoicing. Click QuickBooks at the top menu bar and choose Preferences. This may be the reason why it isn't showing your set credits it's because it's applying automatically to an open transaction. To ensure your credits will show when you linked the deposit, you might want to double-check that the automatically apply credits feature is turned off. How does this work for QB thrilled to help you out, MR_3. Please don't hesitate to post some more, MR_3. 
Just in case you need to record another refund affecting inventory items, please check out this article for more help: Record a vendor refund in QuickBooks Desktop. You can now reconcile the correct cash flow for this vendor refund.
Select Set Credits and apply the Bill Credit you created earlier then click Done. Check the deposit that matches the Vendor check amount. 
Third, link the deposit to the Bill Credit.
Enter the vendor name, choose the account/item used on the original Bill. Second, record a Bill Credit for the refunded amount. In the From Account column, choose Accounts Payable. In the first column, choose the vendor name. Select the bank account from the Deposit To drop-down. It would be like a three step process.įirst, create a bank deposit and use the A/P account for the electronic refund. #Quickbooks enterprise 2019 using open credit how to#
Don't get confused by how to record this transaction.
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