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!

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Rustler
Level 15

Other questions

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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Stace6799
Level 2

Other questions

Thank you.

Stace6799
Level 2

Other questions

Thank you