In QuickBooks 2019 version and QuickBooks 2020 version, you can transfer credits from one to another customer job within few seconds.

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This article will provide you complete information about how to transfer customer credit from on job to another. If you want more information about transferring credits from one to another then you can contact us at QuickBooks Customer Service Number +1888-396-0208.

Note: You should have access to the Chart of Accounts to finish this process.

  • Run the invoice to which you are transferring the credit.
  • Click on Apply Credits. You will see the credits from another customer job under the available credits.
  • Choose the existing credits and then click on Done.
  • Click on Yes on the Confirm Transfer window to complete the transfer.

Before transferring your credits, you should know that it is an irreversible action and it can’t be undone in any case. So, you need to be assured before making any changes in the credits.

When you perform this process, you will see 2 General Journal Entries created by QuickBooks for transferring these credits to another customer. The memo of those journal entries will show “Transfer of Credits for …” that will make it easier for you to understand later. Also, when you use the credits feature for the first time, QuickBooks will create an “Other Current Assets” clearing account to shift the credits. You will be shown that it is used only to transfer credits.

How To Manually Transfer Customer Credit?

If you use QuickBooks 2018 or earlier version of QuickBooks Accountants edition then you will have to manually transfer and apply the credit from one to another customer job. You can follow the below-mentioned steps to do so:

Step 1: Set Up A Clearing Account.

You can visit set up a clearing account to get detailed steps for this.

Step 2: Create A Journal Entry To Move The Credit From The Customer:job To The Wash Or Clearing Account.

  • From the main menu of QuickBooks, go to Company > Make General Journal Entries.
  • Debit the Accounts Receivable with the amount the you want to transfer.
  • Choose the Customer:job that you are transferring the credit from in the Name
  • Credit the Clearing Account on the second line.

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  • Click on Save & Close.

Step 3: Link The Payment Or Credit To The Journal Entry

  • Go to the Customers menu and then click on Customer Center.
  • Select the customer from which you want to transfer the credit and then open the Transaction.

If you are linking a payment:

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  • Double-click on the payment from the transactions list.
  • Mark the journal entry check box.
  • Click on Save & Close.

If you are linking a credit:

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  • Double-click on the credit memo from the transaction list.
  • Click on Use credit to apply to invoice.
  • Mark the journal entry checkbox and then click on Done.
  • Click on Save & Close.

Step 4: Create A Journal Entry To Move The Credit From The Clearing Account To Another Customer:job.

  • Go to the Company menu and then click on Make General Journal Entries.
  • Credit the Accounts Receivable with the amount the you want to transfer.
  • Choose the Customer:job that you are transferring the credit from in the Name
  • Debit the Clearing Account on the second line.

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  • Click on Save & Close.

Step 5: Apply The Credit To The Unpaid Invoice.

  • Go to the Customers menu and click on Receive Payments from drop-down.
  • Select the Customer:job to which you are transferring the credit.
  • Mark the appropriate invoice and then click on Discounts & Credits.
  • From the Credits tab, choose the credit/s that you want to apply and then click on Done.

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  • Click on Save & Close.

Technical Support For QuickBooks

Hopefully, you find this article helps you in transferring the customer credit from one job to another easily. It is not a complex process but as we have already said that it is an irreversible process and it can’t be changed in any situation. If you have done it mistakenly or you want to make some changes after then you can contact us at our toll-free QuickBooks Support Phone Number +1888-396-0208. You will be instantly connected to us and you will be provided the best solution instantly.

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How To Transfer Customer Credit From One Job To Another?

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