Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowSolved! Go to Solution.
Hello there, Staffactg.
You can create a journal entry to transfer the amount from A/R to F/R. First, you'll have to set up a clearing account. This account will act as a middleman for the A/R and F/R accounts. Then, create the journal entry to a clearing account. Lastly, enter the second entry to move it to the F/R account.
Here's how to record a journal entry:
Though, I always suggest checking with your accountant on the best way to handle this situation.
I've got you an article for future reference: Warning: You cannot use more than one AR or AP account in the same transaction.
Feel free to visit us in the Community if you have other concerns.
I’m happy to see you in the QuickBooks Community, staffactg.
I’ll be your guide today, so you’re able to apply the credits left from the A/R to the Financed Receivable.
The steps are as easy as 1, 2, 3. Rest assured, I’ll walk you through the process linking the credit to your invoice.
Here’s how:
For more insights on how to issue or apply customer credits, check this article: Record a credit memo or refund in QuickBooks Desktop.
That should answer your concern for today.
Please let me know if you have any follow-up questions. I’m always around to answer them. Wishing you the best with your business endeavors.
Thank you for that answer.
I do know how to apply those payments as you instructed, however...the A/R and F/R are two different accounts. This does leave me with an option to apply the remaining funds as a credit when I select apply credits. Shows as zero and the remaining credits are left in the A/R account.
Hello there, Staffactg.
You can create a journal entry to transfer the amount from A/R to F/R. First, you'll have to set up a clearing account. This account will act as a middleman for the A/R and F/R accounts. Then, create the journal entry to a clearing account. Lastly, enter the second entry to move it to the F/R account.
Here's how to record a journal entry:
Though, I always suggest checking with your accountant on the best way to handle this situation.
I've got you an article for future reference: Warning: You cannot use more than one AR or AP account in the same transaction.
Feel free to visit us in the Community if you have other concerns.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.