Transferring a credit balance to new customer

[mcarey101]

We have a customer with a credit balance on their account. They were just
bought out by another of our accounts and we want to "transfer" this credit
balance to the new account. What is the best way to do this ?

[dringstrom]

Create a Receipt transaction for the existing customer ID where the cash account is changed to any account number that you want, such as Sales. Use this to "pay" any open invoices that they have.

Next, create a new Sales Invoice for the new customer ID that correponds to the invoices that you just paid. Code these sales transactions to the same general ledger account where you "paid" the other invoices from. The two sets of transactions will net to zero, and the outstanding balance will be transferred to the new customer ID.

On the receipt transaction, be sure to change your cash account back to Cash after you post the receipt to sales, otherwise you'll be posting your checks to a non-cash account, which can make a hash of your banking.