Romy,

We set up the credit card the way you explained and it works very well, however, we have run into a snag. We received an invoice from a vendor and paid the invoice. than we found the same amount on the credit card and it was paid by credit card. We called the vendor who issued a credit to our credit card. We now have a snag, as we have a credit on our card but no invoice to apply it to. Any suggestions? Any help would be appreciated!
Brenda

Hi Brenda, the credit can be put on the credit card vendor record, instead of the vendor who issued it - as next month you will pay the credit card less than the amount you normally pay. I obviously don't check the forum very often so if you want to email me directly at [Email Removed] feel free. Thanks, romy

Karen - sorry I did not get back to you - we do have it set up as an asset account - since it never has a balance (we pay it off) it is not an issue. If we ever did have a balance it would show as a negative. My email is [Email Removed] just in case you need it. romy

We have set up our accounts to pay by vendor for credit cards, as discussed earlier in this forum.  It is working great in helping us to track all our payments to a certain vendor.  However, we are stumped on what to do when we receive a credit.  The credit or return often happens in the next payment cycle (i.e., the original statement has already been paid).  As such, there is no longer an invoice from that particular vendor on which to apply the credit.  We would like to have the credit go to the vendor rather than the credit card company account, as our whole purpose in this is to track our payments by vendor.

 Any ideas on how to apply the credit?