The kind of sophisticated software QuickBooks is, it allows you to do everything that is possible under the sun in the field of accounting. It was meant keeping in mind your ever changing business needs. That’s the reason why the program is preferred by many and has such a huge market worldwide.
In one of the rare scenarios, if a client is a customer today then he can be your employee or a vendor tomorrow. This is just how the businesses work. If you have gone through such a scenario then your accounts must depict this change.
Though making changes is quite easy if you are maintaining books manually but within the software, the same can be a little tricky. This is because the software has the capability to alter every entry related to that person with just one click. Thus you need to tread with care.
QuickBooks: Change customer to vendor following these steps.
Though there is not a direct way to turn your customer into a vendor you can apply this trick given in the below-given steps:
- Login to your Quickbooks company file and choose the customer’s tab in the top navigation panel.
- Click on the customer centers tab from the drop-down menu.
- Now right click on the customer that needs to be converted.
- You will now get the option to either “Delete” or make the customer “inactive”.
- If you don’t have any entry related to the customer then there is no problem in deleting the customer.
- But if you have entries related to that client then making them inactive will serve you best.
- Decide what you want to do and choose your preferred option.
- Now from the dashboard itself, choose the vendor’s button.
- Click over the Vendors center option. If you don’t see the option already then click on the vendor’s icon and it will serve the same purpose.
- Choose to create a new vendor and enter all the required details like:
- Vendor name,
- Any opening balance that the converted customer might already have.
- Currency details.
- Provide the address of your new vendor and every other detail that might now be followed.
- Choose Ok to save and retain info. about your customer turned vendor.
Convert your Customer’s Entries..
So, now that you have successfully converted a customer to a vendor, now the next step would be to convert all the entries associated with it. Thus, here in this step, we would allocate all the entries previously assigned to a customer, finally to a vendor. Follow the steps to do the same:
- Go to your Quickbooks dashboard once again and click on the customer’s tab.
- Choose customer center and navigate to the name of the customer you now converted to a vendor.
- Click on the view tab beneath the name of the customer and this will open up all the transactions related to your client.
- Double click on the each and every entry one by one and rename the account associated with that entry. This would mean that you would now rename the name of your customer that would be “XYZ customer” to “XYZ vendor”.
- Delete the customer account when you have associated all the entries to a new vendor and now you will be left only with the vendor.
This completes the solution to your query on “QuickBooks: Change customer to vendor”. Though we have tried to go into every detail possible to fix your issue if there is anything still left on our part then do let us know. We would be happy to assist you. For any customized help, talk to our QuickBooks proadvisors and get your QuickBooks issue sorted on phone.