Import a balance from another company and credit customers that have paid in advance

Import a balance from another company and credit customers that have paid in advance

Hi,

Sorry for the long title!!

I run a property management company, and have taken over a property complex from another company. On transfer, the old PM company transferred the balance of the owner's payments to my account. This includes some overpayments from some owners.

As an example to explain;

The old PM company sends me €6000 by bank transfer and a spreadsheet showing owner payments.

From this €6000, I need to transfer various amounts to the owner's accounts as overpayments (credits). These overpayments will be used in the future to pay new invoices.

I need to record the 6000 coming into the bank account and then show that some of these funds are actually credits to the owner's accounts. The remainder of the 6000 is basically savings for the property complex that will be used in the future to pay large bills.

I hope I have made the problem clear, but please ask if not.

Thanks in advance.

Martin