Problem: How to transfer of advance payment from one customer to another?
Solution: Create an empty cash receipt and don't post it
To transfer prepayment from one customer to another, couple of transaction has to be created as there is no shortcut to do the needful.
Firstly, make sure to create receipt document to show the receipt of the Prepayment from the customer, here in this example, company TEST5032024 is the customer from whom the advance is received by the entity. Test5032024new is the company to whom the prepayments needs to be transferred.
Transaction Bank receipt EIBR24-00000004 is posted for the receipt of advance. Do the below to transfer the balance.
1.Create an empty Bank receipt or Cash receipt for Customer Recipient and don't post it:
Main tab:
Payment Details tab:
2. Create a Mutual Settlement document (Accounting > Service Tools > Mutual Settlements). Transaction Type Customer Debt Assignment:
In the Customer field, select Customer Recipient
In the Customer Recipient field, select Customer
3. At the Accounts Receivable tab use the button Pick for choosing an empty Bank receipt or Cash receipt for Customer Recipient, double-click on the document, then press OK:
4. At Payee Attributes tab, specify the Contract, Document, and Amount of Settlement:
Accounts Amount and Accounting Amount in the Accounts Receivable Tab and Amount of Settlements and Accounting Amount in the Payee Attributes Tab should match.
6. As the Mutual Settlement document is posted, the corresponding record is created and documents are settled:
Generate reports and check mutual settlements with the STATEMENT OF MUTUAL SETTLEMENTS for each company
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