Apply Deposits to Multiple Jobs

Summary

Applying credits to multiple jobs or customers.

Question

My client has 2 customers that make prepayments. Both are owned by the same company, and they want to transfer the credit balance (excess deposit) from Co. A to Co. B. What is the best way to do this?

Answer

Great question. Seems like a simple problem, but it's not. The problem is, QuickBooks allows us to assign a payment to multiple jobs, but you cannot assign existing credits to multiple jobs. The attached file shows how to use a clearing account to work the transactions through.

Downloadable Files: