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hariprasad
Level 2

How can I adjust Accounts receivable of one customer with another customer without showing it in AR Aging report.

 
3 Comments 3
KlentB
Moderator

How can I adjust Accounts receivable of one customer with another customer without showing it in AR Aging report.

I can definitely help you with that, hariprasad.

 

You can create a journal entry and then apply it to transfer the credit from one customer to another. I'll show you how:

 

  1. Click the + New button.
  2. Select Journal Entry.
  3. Set the journal date to the current date.
  4. On the first line item, select Accounts Receivable (A/R) from the Account drop-down list.
  5. Enter the amount being transferred in the Debits field then add a memo as needed.
  6. From the Name drop-down list, select the name of the customer the credit is being transferred from.
  7. On the second line item, select Accounts Receivable (A/R) from the Account drop-down list. The credit amount and the memo will auto-populate.
  8. From the Name drop-down list, select the name of the customer the credit is being transferred to.
  9. Select Save or Save and close.

Once done, follow these steps to apply the credit:

 

  1. Click the + New button.
  2. Under Customers, choose Receive Payment.
  3. Select the name of the customer the credit was transferred from.
  4. Under the Outstanding transactions section, tick the checkbox of the journal entry you created.
  5. Under Credits, tick the checkbox of the credit note you need to transfer.
  6. Select Save and close

After that, the credit will be removed from the customer you are transferring the money from. You may now use it to reduce the customer's current balance.

 

Additionally, take note that the adjusting entry you've created won't show in the A/R Aging Summary report. However, it will reflect in your A/R Aging Detail since this is a transaction-based report.

 

I've also included some articles below to help speed up the reporting process in QuickBooks:

 

If I can be of any additional assistance, please don't hesitate to leave a comment below. I've got you covered.

hariprasad
Level 2

How can I adjust Accounts receivable of one customer with another customer without showing it in AR Aging report.

How can we remove it from AR Aging detailed report.

Rasa-LilaM
QuickBooks Team

How can I adjust Accounts receivable of one customer with another customer without showing it in AR Aging report.

Welcome back to the Community, hariprasad.


As mentioned by my colleague, the A/R Aging Detail is a transaction-based report. That’s why the adjusting entry created will still show on the report and we’re unable to remove it.


Here’s a link that provides information on how QuickBooks generates reports. From there, you’ll be able to identify the source and targets of a statement.


The article is from the desktop version, but it also applies to QBO. Click here to view the complete details and go to the How QuickBooks generates reports section.

 

For additional resources, this guide will walk you through the process on how to build and personalise the data on the following: Run an accounts receivable ageing report. 


Stay in touch if you have other concerns or questions. I’ll get back to answer them for you. Have a great rest of the day.