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bernadette
Level 1

I need to transfer a payment from one client to another. Since it's already been reconciled, I don't want to delete the deposit.

I followed instructions on this site and did a journal entry debiting a/r for the client I need to transfer the payment from and crediting a/r for the client I want to transfer the payment to.  It says I cannot use more than one A/R or A/P account in the same transaction.

Solved
Best answer December 10, 2018

Best Answers
qbteachmt
Level 15

I need to transfer a payment from one client to another. Since it's already been reconciled, I don't want to delete the deposit.

"I followed instructions on this site and did a journal entry debiting a/r for the client"

Never use a JE for AR. Those instructions are bad guidance. You are making this much harder; this is not an AR issue at all.

You don't need to delete the deposit, either.

Do it like this:

Open that deposit and where you see this entry, remove the name and "Undeposited Funds" and make this "from" an Other income or expense account as a placeholder. Save; not Save and Close. Leave this open and the amount is unchanged = will not unreconcile.

Fix the Payment and make sure it still flows to UF.

Now, go back to that Open Deposit. Use the Payments icon to select this new entry. Remove your Placeholder line entirely.

Save and close.


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7 Comments
chipoffblock
Level 3

I need to transfer a payment from one client to another. Since it's already been reconciled, I don't want to delete the deposit.

Ya, sorry I had forgot a little how it worked! To re-add the payment, you have to click the payment button, and choose the payment from the list.

qbteachmt
Level 15

I need to transfer a payment from one client to another. Since it's already been reconciled, I don't want to delete the deposit.

"I followed instructions on this site and did a journal entry debiting a/r for the client"

Never use a JE for AR. Those instructions are bad guidance. You are making this much harder; this is not an AR issue at all.

You don't need to delete the deposit, either.

Do it like this:

Open that deposit and where you see this entry, remove the name and "Undeposited Funds" and make this "from" an Other income or expense account as a placeholder. Save; not Save and Close. Leave this open and the amount is unchanged = will not unreconcile.

Fix the Payment and make sure it still flows to UF.

Now, go back to that Open Deposit. Use the Payments icon to select this new entry. Remove your Placeholder line entirely.

Save and close.


View solution in original post

chipoffblock
Level 3

I need to transfer a payment from one client to another. Since it's already been reconciled, I don't want to delete the deposit.

You don't need to delete the deposit. You can just 'trick' QB's! As long as the total amount on a deposit stays the same, it won't affect the reconcile. So you can just change the 'from account' in the deposit to anything else, and resave. then you can edit the payment. Then open the deposit again, and re-add the payment, and delete the line that was there before. Then the dollar value should be correct again, so you can re-save.

bernadette
Level 1

I need to transfer a payment from one client to another. Since it's already been reconciled, I don't want to delete the deposit.

It doesn't let me change the "from account" It says I have to delete the line. I did that and added another line to make the deposit amount the same.  I fixed the payment, but when I try to go back into the deposit and add it back using the payments received account, it says I can't use the payments received account.
Michelle-Long-CPA
Level 4

I need to transfer a payment from one client to another. Since it's already been reconciled, I don't want to delete the deposit.

Here's a blog post I wrote along with a video on how to fix the payment and apply it to a different customer:  http://longforsuccess.com/quickbooks-tip-how-to-edit-a-payment-that-is-already-deposited/

Video that demos how to do it:



I hope this was helpful.
billing1
Level 1

I need to transfer a payment from one client to another. Since it's already been reconciled, I don't want to delete the deposit.

How do I do this if I only want to move a portion of the payment to a different customer and not the whole amount?

MadelynC
QuickBooks Team

I need to transfer a payment from one client to another. Since it's already been reconciled, I don't want to delete the deposit.

I’ve got you covered, @billing1.


I’m glad to show you how to move a portion of the payment to a different customer in QuickBooks Desktop.


You can set up a Clearing account to make your accounting easier. This account will help you move the money if you're unable to transfer it directly. A Clearing account usually contains a balance of $0.00 since you'll be able to take back the amount that you transfer in it. This account is also called a Barter or wash account. To do so, follow the steps below:

 

  1. First of all, you have to choose the Chart of Accounts from the Lists menu.
  2. After that, click New by right-clicking on the Chart of Accounts.
  3. Go to the Add New Account window and choose the Bank radio option.
  4. Next, click on Continue.
    Capture.PNG
  5. You have to choose the Account Name field and type Clearing Account, Wash Account, or Barter Account.
  6. We recommend you not to enter an Opening Balance.
  7. Select Save & Close.
    Capture.PNG


After creating a clearing account in QuickBooks, you might be looking for the steps to use it. You can refer to this guide about setting up clearing accounts to learn more. It would be great to reach out to your accountant for further assistance. They can help ensure everything accurate.


For more tips, resources, and playlists, feel free to visit our Support page. Just select each topic to view the details. You can also check the video tutorial shared by our Community backer Michelle-Long-CPA for additional reference.


Let me know if you have additional concerns or questions besides transferring a payment. I’m here to ensure your success. Take care and have a good day!

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