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Join nowWe are a contractor with a buildout on a commercial job, we are invoicing both the owner's of the building and the future tenants of the bldg. The tenants overpaid on an invoice and have a credit with us. The tenants would now like for us (contractor) to send the owner's a portion of that credit for payment the Tenants owe the owners? Can I transfer a portion of a credit from one customer to another customer so that the payment comes out of our deposit (bank) and is reflected in the Tenant's credit
Solved! Go to Solution.
Hi there, @H-IConstruction.
Thank you for posting to the Community.
Let's create a barter account and get your payment recorded as a barter transaction.
Create a journal entry to move the credit from the Customer
Link the Payment or credit to the journal entry
Create a journal entry to move the credit from the clearing account to another customer:
Apply the credit to the unpaid invoice:
By following these steps, you'll be able to transfer the credit to another customer.
I've added additional article to learn more about Transferring credit to another customer: Transfer and apply credit from one vendor to another in QuickBooks Desktop.
Please mention my name if you need anything else regarding this. I'll be happy to lend a hand. Have a great day!
Hi there, @H-IConstruction.
Thank you for posting to the Community.
Let's create a barter account and get your payment recorded as a barter transaction.
Create a journal entry to move the credit from the Customer
Link the Payment or credit to the journal entry
Create a journal entry to move the credit from the clearing account to another customer:
Apply the credit to the unpaid invoice:
By following these steps, you'll be able to transfer the credit to another customer.
I've added additional article to learn more about Transferring credit to another customer: Transfer and apply credit from one vendor to another in QuickBooks Desktop.
Please mention my name if you need anything else regarding this. I'll be happy to lend a hand. Have a great day!
I have completed these 5 steps but and the balance for the customer that the credit is coming from is correct however the customer that I am applying the credit to is short by the amount of the credit. Any ideas why this would happen?
I have completed these 5 steps. The balance for the customer that the credit is coming from is correct however the customer that I am applying the credit to is short by the amount of the credit. Any ideas why this would happen?
Thanks for sharing your concern with us, AB77.
You'll want to make sure the Accounts Receivable transferred to the correct account. This is the reason why your customer is short with the amount of credit. To correct this, you can create a journal entry to move the credit from the clearing account to another customer.
I'll show you how below:
Once done, you can proceed to the step five of the instructions shared by my colleague above.
For a more detailed instructions, you can have this article as your reference: Transfer customer credit from one job to another.
If you're still having challenges in transferring a portion of your customer's credit to another customer, feel free to ask assistance from our QuickBooks Care Support. They have the tools like screen sharing to guide you through the whole process.
Here are the steps to contact support:
Be sure to get back to me if you have follow-up questions by leaving a reply below. I'm always happy to help. Have a good day!
Thank you Charles. The account balances are now correct but the following shows on the statement for the customer I took the credit from:
Date | Transaction | Amount | Balance |
1/7/2019 | PMT | -197.27 | -197.27 |
Is this correct or a sign that I did something wrong?
Thank you for getting back to us here on the Community page, @AB77.
If the balances now correct, then you have recorded the transactions or entries correctly. Please know the balance where the credit is coming from should be in a positive amount and the balance of the customer where it's going to should be a negative amount so it can be used to pay an invoice.
For more information about refunds and credits in QuickBooks Desktop, read this article: Give your customer a credit or refund in QuickBooks Desktop for Windows.
Get back to me if you have any other questions. I'm a few clicks away to help. Have a good day!
I have followed this step by step but when I get to the part where you click on 'received payments', there is nothing in the transaction list for me to click on. I see that the credit amount went away from the first customer but I cannot seem to pull it and credit it to the second customer. PLEASE HELP!!
Thanks for chiming in on this thread, DogDaysLamb.
Let me add some additional info.
To link the credit, please make sure to select the second customer's name from the Name column in the journal entry. This way, you will be able to see the available credit and apply it.
To open the journal entry, you can follow these steps:
Here's a sample screenshot for a visual reference:
If you're still not able to see the credit, I'd recommend contacting our Customer Care Team. They can pull up your account and review the transactions you've created.
Here are the steps:
You can leave a reply here if you have any additional questions or other concerns. We're always available to help you out. Take care.
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