Transfer of Credits

I can help you transfer the credit memo to another customer, Courtney. Let's work together to achieve this.

First, set up a clearing or barter account to manage credit movement. This account, often called a Barter or Wash Account, typically maintains a $0.00 balance due to offsetting withdrawals and deposits.

Here's how:

1. Go to the Lists menu and select Chart of Accounts.
2. Click the Accounts drop-down arrow, then tap New.
3. Select the Bank radio button, then Continue.
4. Enter Clearing, Barter, or Wash Account in the Account Name field.
5. Do NOT enter an opening balance.
6. Hit Save & Close.

Next, create a journal entry to transfer the credit. I'll guide you on how to do it.

1. Go to the Company menu.
2. Select Make General Journal Entries.
3. Choose the date, and select Accounts Receivable (AR) in the Account drop-down arrow.
4. Enter the amount in the Debit column.
5. Select the Customer: Job from which you want to transfer the credit in the Name column.
6. In the second row, select the clearing account, then enter the amount in the Credit column.
7. Hit Save & Close.

After that, link the payment or credit to the journal entry. You can check this link for the detailed steps under Step 3 and proceed to Step 4 to complete the process: Create a journal entry to move the credit from the customer.

I also recommend seeking guidance from your accountant for the correct account and method.

Additionally, refer to this guide for eliminating balances in QuickBooks: Write off customer and vendor balances.

Let me know if you have additional questions about moving the credit memo to another customer. My goal is to ensure you have a smooth experience with QuickBooks Desktop. Thank you, and I look forward to hearing from you soon.