To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.

Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm. 

In the Vendor field, select "Tim Philip Masonry".

Notice that a purchase order appears in the drawer to the right. This is the previously agreed upon price for the fountains.

In the QTY field, change the quantity to "10" (remember this is the original bill).

Now let's create the vendor credit that Tim promised.

Click the arrow to open the "Item details" grid.

On the first line, under Product/Service, select "Design:Fountains:Rock Fountain".

*Hint: Just begin typing Rock Fountain, and it will pop up.*

Finally, let's apply the credit to the bill. We do that when it's time to pay.

Fastandeasyqbo

QuickBooks

QuickBooks is a widely-used accounting software developed by Intuit, designed to simplify financial management for businesses of all sizes. It provides a user-friendly platform for tasks like invoicing, expense tracking, payroll processing, and generating financial reports. QuickBooks automates many financial processes, making it easier for businesses to monitor their financial health, prepare taxes, and manage cash flow. With its various versions and integrations, QuickBooks caters to the needs of freelancers, small businesses, and larger enterprises, offering a flexible and comprehensive solution for efficient accounting and financial management.

app.qbo.intuit.com

fastandeasyqbo.com

Scenario: Craig purchased 10 rock fountains from Tim Philip Masonry and has received, but not yet paid, the bill. One of the fountains, however, was cracked. When Craig contacted him about the cracked fountain, Tim agreed to deduct the cost of one of the fountains from his current bill. 

Create Tim’s bill, then create a vendor credit and apply it to the bill.

3.3 Create and Apply Vendor Credit