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Stace6799
Level 2

Journal Entry for Customer Accounts

We sold a new scooter to a customer.  We were unaware of the dealer finance fee from the manufacturer so we are going to absorb that.  There was a $50.93 balance on the customer's account.  How to I do the journal entry that removes it from the customer's account but keeps it trackable.  I have a "Dealer's Finance Fee" expense account already.  Thank you!

Solved
Best answer June 26, 2021

Best Answers
Rustler
Level 15

Journal Entry for Customer Accounts

Journal entries act funny in QB, best not to use them if possible

 

Create a service item called Dealers fee and link it to the dealer fee expense account.

Use that item on a credit memo for the customer

apply the credit memo to the invoice to clear it

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3 Comments 3
Rustler
Level 15

Journal Entry for Customer Accounts

Journal entries act funny in QB, best not to use them if possible

 

Create a service item called Dealers fee and link it to the dealer fee expense account.

Use that item on a credit memo for the customer

apply the credit memo to the invoice to clear it

Stace6799
Level 2

Journal Entry for Customer Accounts

Thank you.

Stace6799
Level 2

Journal Entry for Customer Accounts

Thank you

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