Credit Note from Supplier
Software: QuickBooks accounting software
When you received a Credit Note from supplier, you can use Enter Bill feature in QuickBooks to record this transaction. From Enter Bill window, select “Credit” radio button which at the top left hand corner of your Bill; QuickBooks will transform this bill into credit, you need not record it as a negative value, QuickBooks knows it is a debit balance and less off from your Accounts Payable balances (Accounts Payable is a credit nature account).
To knock off this credit note with bills, simply click the Set Credits button at the Pay Bills window and select the correct Credit Note to offset against your Bill.
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