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Join nowWe have vendors that are also customers. Is there a way to offset their AR against the AP before issuing a check to the vendor?
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Glad to see you in the Community, @Kevin PPS.
Yes, you can offset their AR against AP by using a clearing account to record payment and pay bills. If you haven't created a clearing account yet, you can follow the steps below on how to set it up in QuickBooks.
This account can be used to move money from one account to another account. To learn more, you can check this article: Set up a clearing account.
Once done, you can do the normal process of recording payment from the customer and paying bills to the vendor using the clearing account.
Know that I'm here to provide further assistance if you need it. All the best!
Glad to see you in the Community, @Kevin PPS.
Yes, you can offset their AR against AP by using a clearing account to record payment and pay bills. If you haven't created a clearing account yet, you can follow the steps below on how to set it up in QuickBooks.
This account can be used to move money from one account to another account. To learn more, you can check this article: Set up a clearing account.
Once done, you can do the normal process of recording payment from the customer and paying bills to the vendor using the clearing account.
Know that I'm here to provide further assistance if you need it. All the best!
May i know the entry for the offsetting?thank you
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