Solved

Journal Entry for Customer Accounts

3 replies
0 views

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!

QuickBooks Enterprise Suite

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

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

Stace6799Author

Thank you.