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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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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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Thank you.
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Thank you