Use this process to remove a credit from one customer account and apply it to another.
- Go to Accounting > Accounts Receivable > Cash Receipts Posting.
On the Cash Receipts Posting window that appears. The default bank account will populate. This transaction will not affect a bank account.
- In the Customer box, type the customer from whom the credit is being transferred.
- From the Payment Type list, select Check, and then in the Check Number box, type a description, such as crdtrans.
- In the Amount box, type 0.
- Click the Adjustments button at the bottom of the window.
- In the Adjustment box, type the amount that you want to transfer as a negative value.
- For the Adj G/L, select suspense G/L account that is not established as a bank.
- Click Save.
- On the Balance Remaining pop-up, choose On Account.
- Repeat step 2, but choose the Customer to whom the credit is being transferred.
- Repeat step 3, but enter the Adjustment as a positive amount equal to the negative you entered in step 3. Make sure you choose the same Adj G/L to allow the amounts to balance out.
- Click Save.
Note the Bank Batch amount will be zero for these postings.
- Print and post to A/R. See Print and post invoices daily.
Multi-branch users note that exchange accounts will be invoked if the customer’s accounts are based in different branches and the accounts receivable is separated by branch.