Transfer credit memo from a parent customer to multiple sub-companies

W012 · ‎July 24, 2025

Is there a way to transfer a credit memo from a parent company to several sub-companies without a general journal entry for Each Invoice?

Here is an example I'm working with:

Remittance Detail:

3 deductions = $2,116 total

18 different sub-companies with a combined total of 31 separate invoices (ranging from $21 to $170) = $2,223 due before deductions

Payment Received = $107.00 (net deposit to our bank)

QB Enterprise allows me to receive the $107 payment to the parent company and apply it to any sub-company invoice directly.

However to apply the parent company's $2,223 credit memo to the remaining invoices (30 in this case), QB creates 2 general journal (GJ) entries for each invoice. I have no visibility into the GJ; the company owner restricts GJ access to himself; therefore future questions regarding balances gets difficult, not impossible but extremely tedious, to research.

ZackE · ‎July 24, 2025

Thanks for reaching out to the Community, W012. I appreciate your detailed information.

To properly identify how you should go about transferring a credit memo from a parent customer to multiple sub-companies, I'd recommend working with an accounting professional. If you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.

Here's how it works:

Go to our Find a ProAdvisor page.
Use the City or ZIP search field to specify a location.
Select Find a ProAdvisor.
Browse through your results and find one that works best for the business. You can click on each ProAdvisor's profile to learn more information about them.

Once you've found an accountant, they can be contacted through their Send a message form:

I've also included a couple detailed resources about working with journal entries and credit memos which may come in handy moving forward:

If there's any additional questions, I'm just a post away. Have a wonderful Thursday!

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Transfer credit memo from a parent customer to multiple sub-companies

Transfer credit memo from a parent customer to multiple sub-companies

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