QB Issue Resolution:
“Stamps.com offered $5 credit towards shipping on their site if I sign up for their service.”
Set up a Bank type of account and name it Stamps.Com. This is how you manage it when someone else has your funds that are used on your behalf. This is your Asset, not prepaid Expense.
“I added an additional $10”
Write Check from “source bank” such as Checking or Petty Cash. You stated this: “credit 10 cash” so that is Write Check on that Cash Account. On the Expenses tab, post to the Stamps Bank. Or, this is Banking menu > Transfer, from Source account to Stamps Bank.
“so my total to use towards shipping is now $15.”
Banking menu > Make Deposit. To Stamps Bank. “From” Income. You got Value to use = Income. Or, from Postage Expense = it looks like negative expense, because you got this as an early refund.
Now Stamps Bank = $15.
“I mailed one item for $2.61”
Banking menu > Write Check. Top Left = Stamps Bank. Enter the details of this Spending, as usual.
Now Stamps Bank has $12.39 in it.
Refills = Make Deposit or Transfer from Checking.
Spending = Write Checks.
And get the statement from them; use it to Reconcile that Stamps Bank. I have a client that uses this, and we have caught a few errors. Mostly, they seem to Overlook charging him 🙂
Resolution for Issue 'How to record the following: Vendor offers 5 to join. I pay add’l 10. Create a bill or journal entry: debit 15 prepaid shipping, credit 10 cash & credit 5 ( account?)' available: Yes (Solved).
Source: Intuit Community forum.
How to record the following: Vendor offers 5 to join. I pay add’l 10. Create a bill or journal entry: debit 15 prepaid shipping, credit 10 cash & credit 5 ( account?): this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.
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