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cbarratt
Level 1
posted
‎May 03, 2019 11:21 AM
last updated ‎May 02, 2019 6:21 PM

I have a customer who is also a supplier to me. i need to do a contra where we have offset invoices owing to each other. How do i do this?

 
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2 Comments 2
Rustler
Level 15
‎May 03, 2019 08:00 PM

I have a customer who is also a supplier to me. i need to do a contra where we have offset invoices owing to each other. How do i do this?

QB does not allow for that kind of contra account

 

receive the customer payment, deposit to a cash or clearing bank type account, then pay the bill from it

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frankodownunder
Level 1
‎October 22, 2021 11:56 AM

I have a customer who is also a supplier to me. i need to do a contra where we have offset invoices owing to each other. How do i do this?

The solution I used for this situation was to create a Journal - Credit to Accounts Receivable (include the Customer Name) and Debit to Accounts Payable (include to Supplier name).

This will create offsetting credits in the customer and supplier. You will need then go to the customer and process a "Receive payment" to clear the invoices paid allocating the journal credit just created. Likewise with the supplier account, process a "Make Payment" to clear offset invoices.

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