A customer may want to transfer part of or all of his/her chargeable balance to another customer. For example, if Customer A owes you $1000 dollars, they can ask to have the chargeable balance transferred to customer B. Customer B would then owe $1000. The end result it that Customer A owes you $1000 less, and Customer B owes you $1000 more.
The customer who will owe less after the transfer must have chargeable balance to transfer.
Credit Balances and Prepayment balances cannot be transferred.
Balances can be transferred only between customers of the same currency.
Note
No money is changing hands - you are transferring chargeable balance from one customer to another. You aren't transferring dollars or credits from one customer's account to pay off another customer account.
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Setup
(Config C) Prior to transferring customers’ chargeable balances, you must first define the GL account to use for balance transfers.
To transfer a customer’s chargeable balance to another customer
Use the Transfer Balance from window to transfer customers’ chargeable balances. The transfer is saved as two adjustments, one for each customer (one positive, one negative).
On
the Accounts Receivable menu, click
Customer Accounts. Or click the Customer Account toolbar button.
The Find Customer window opens.
Find the customer who owes too much by using the various search criteria.
In
the Customer List, enter the customer
who wants to transfer his/her chargeable balance and then click Use Selection.
The Customer Account Information window
opens.
Click
Transfer Balance To Customer.
The Transfer Balance from window opens.
In the Transfer to box, enter the customer that the chargeable balance is being transferred to (i.e., the customer that will receive the chargeable balance).
Tip
Click Add to add a new customer.
In
the Transfer Date box, optionally change
the date that you are transferring the chargeable balance.
Today’s date is selected by default. You can change this date to a
past date, but not to a date in a closed accounting period. Future
dates are not permitted.
In
the Due Date box, optionally change
the due date of the account adjustment.
Today’s date is selected by default.
In
the Amount to Transfer box, enter the
amount of chargeable funds from the customer’s regular account that
you want to transfer to the other customer’s regular account.
You cannot enter a negative amount.
Tip
Click the More Info link when you need a reminder of the 'rules' of transfer balance.
Note
Both of the customers’ current balances and their balances after the transfer are displayed on the window.
In
the Comment box, optionally change the
comments for the printed Customer Statement reports.
agrē enters a comment by default.
Note
If you do not have a GL account specified in your configuration settings for the transfer, you cannot save the transfer.
In
the Interest box, optionally change
the Charge Interest flag, the Interest Rate, or the Chargeable
Date.
The defaults are to charge interest at the receiving customer's rate
starting tomorrow, but these can be changed.
Caution
The chargeable
date on this account adjustment
will be tomorrow unless you change
it.
If you forget to do it now, it can be changed later via Manage Outstanding Items.
Click Save.