In some of the foreign currency transaction such as applying an adjustment amount (Credit Note) to a Bill, the Credit amount disappeared from the Credit Used column. Besides, the Pay Selected Bill button was grey off.
Software used: QuickBooks Enterprise 2009/10 Asia version
Home Currency: USD
Exchange Rate: 0.14972 Chinese Yuan Renminbi : US$1
01 Nov 2010, create a payment via Write Cheque to Supplier A (as a deposit) for the amount of Y59,570.00 (Renminbi). Since this was a deposit, the account used will be Accounts Payable – RB (Currency = Chinese Yuan Renminbi).
10 Nov 2010, received Bill from Supplier A, Bill amount was Y59,570.00; enter the Bill with item as per normal.
Since this Bill was already ‘paid’ earlier, you are required to knock off so that it will not show as an outstanding bill. To do it, simply do a Pay Bill to Supplier A. In the Pay Bill window, select your bill to pay, click the Set Credit button and select the Payment which you did earlier.
After you have selected this Payment from the Set Credit sub-window, the credit amount does not show up in the Credit Used column, besides, the Pay Selected Bill button was grey off.
It seems to be a bug in the default Chinese Yuan Renminbi currency. I did a test, when the amount was less than Y5,000.00, the bill can be knocked off by Set Credit method. However, any amount greater than that will have an error.
To resolve it, I created a new Chinese Yuan Renminbi currency in the currency list (I named it as RB, it can be any prefer name). Next, I created a new Accounts Payable account (I named it as AP-RB) and link it to this currency; all the supplier or customers that require trading in Renminbi will link to this currency too.
Now, when I created a Payment and Bill with this newly created currency, I can knock it off by using Set Credit method without any problem.