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Customer Paid Invoice owed to other company, How do I remove the payment?

Hi, I will try to keep this simple,

 

Our customer paid us £7000, however, £1000 of it was owed to our sister company, so we were asked to transfer the £1000 over to the sister company. 

 

All of that is fine, however, we still have the original £7000 payment on our books and now have a separate outgoing payment of £1000 

 

How do I allocate the extra £1000 and the transferred £1000 so that it all makes sense? 

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QuickBooks Team

Customer Paid Invoice owed to other company, How do I remove the payment?

Hello Gbccf, So on company B(the sister company) do you have an open invoice for that 1000? In company A you can record a bill of the 1000 and name the supplier the name of company B so show you are moving the money into company B. Or Is it the case you need to record 6000 received in company A because of money owed to company B? If that is the case you can use a journal to create a Contra entry(we can advise how). We just need to confirm if that is what you are wanting to show.