Has a customer overpaid you for a job that you recently completed? Rather than issuing a partial refund, you may want to transfer the credit to another job for the same customer. An overpayment will result in a credit. The customer will have a credit in the amount of the overpayment. While you can always refund the customer, another option is to transfer the credit. Assuming the same customer has another job open, you can transfer the credit to that job.
QuickBooks 2019 and Newer
If you use QuickBooks Desktop 2019 or newer, you can transfer credits in just a few simple steps. Start by opening the customer’s invoice to which are trying to transfer the credit. Assuming the customer has another job — and the customer hasn’t paid for it yet — you can transfer the credit to it. With the invoice open, you should see an “Apply Credits” option. Selecting the “Apply Credits” option will allow you to choose a credit from another job. When finished, click “Done,” after which you can confirm the change by clicking “Yes” when prompted.
QuickBooks 2018 and Older
Even if you use an older version of QuickBooks Desktop, you can still transfer credits from one job to another job. The process for transferring credits between jobs is a little more time-consuming with an older version. Nonetheless, it’s still possible.
With an older version of QuickBooks Desktop, you’ll have to create a clearing account to transfer credits between jobs. You can then transfer the credit to this clearing account. Next, you’ll have to connect the credit to a journal entry, followed by transferring the credit from the clearing account to the job. After completing the steps, you should be able to apply the credit to an invoice.
It’s not uncommon for customers to have credits on their accounts. Maybe a customer overpaid, or perhaps you issued a customer a credit as a loyalty incentive. Regardless, you may want to transfer this credit to another job for the same customer. You can transfer credits between jobs in QuickBooks Desktop. The process is ab breeze with QuickBooks Desktop 2019 and newer. If you use an older version of QuickBooks Desktop, you’ll have to jump through a few extra hoops. Transferring credits, however, is possible with both new and old versions of QuickBooks Desktop.
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