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Level 3

Client's retainer balance - moving from one account to the other

Hello QB Community!

Our company has a customer who prepays a big amount of money upfront, which we record as retainer.  Actually the customer has two retainer accounts for two different product categories. 


Currently, one of the retainer account balance is way higher than the other, so the customer wants to move the balance from the retainer account to the other. 


My question is how I record this transaction.  Can I do journal entry?  I was originally thinking to go back to one of his deposits and change the account, but the deposit was a few months old and reconciliation was completed for the month.  So I'd rather not to touch reconciliation if there is an option.


Thank you very much! 

1 Comment 1
QuickBooks Team

Client's retainer balance - moving from one account to the other

Hi there, @MKT22191.


Yes, you're right. You can do a journal entry to move the balance from your customer's retainer account to another. I also recommend seeking assistance from your accountant.


Let me walk you through the steps on how to do a Journal Entry:


  1. Go to the +New button.
  2. Under the Other column, select the Journal Entry tab.
  3. Filter the date range.
  4. Enter the information needed in the field. Please ask your accountant for assistance.
  5. Once done, hit Save and Close.


I've also added an article to help you reverse or delete a journal entry in your QuickBooks Online account.


Please know that I'm always around here in the Community to help. Take care, and have a good day.

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