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Level 2

Question- i have suppliers who are also clients. (i buy and sell them) -can i define card of customer or supplier to be both ? client or supplier ?

 
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QuickBooks Team

Question- i have suppliers who are also clients. (i buy and sell them) -can i define card of customer or supplier to be both ? client or supplier ?

I'm happy to see you again here in the Community, @userpet.

 

I have some insights to share with you on how to handle transactions if you have a client, which is at the same time your supplier. 

 

When a client is also your supplier, this process is called a Barter in QuickBooks Online. A barter transaction happens when you and your supplier exchange goods and services. To record the exchange, you’d enter an invoice and a bill to record the products or services you’re exchanging. 

 

However, before entering your barter transaction, make sure you've added your barter partner as a supplier (for the bill) and customer (for the invoice). Since you can’t have the same name in both lists, make one of the names slightly different to avoid duplicates.

 

Let me provide the steps on how to set this up:

Setting up as a Customer

  1. Click Sales in the left navigation menu.
  2. Go to the Customers tab.
  3. Hit on New customer.
  4. Enter the necessary customer information.
  5. Press on Save.

Setting up as a Vendor

  1. Click Sales in the left navigation menu.
  2. Go to the Vendors tab.
  3. Hit on New vendor.
  4. Enter the necessary vendor information.
  5. Press on Save.

After that, you'll need to create a barter account to to handle the transactions. 

 

To do that:

  1. On the left panel, tick on Accounting
  2. Under the Chart of Accounts tab, click on New
  3. Select Cash and Equivalents under the Category Type drop-down.
  4. Choose Cash on Hand under the Detail Type drop-down.
  5. Enter Barter Bank Account on the Name field.
  6. Click on Save

I've got here a great resource that you can scan through to learn more about this procedure:  Learn how to record a barter transaction in QuickBooks Online.

 

Feel free to reach back out to me here if you have any other questions. I'll be right here for you. have a lovely day!

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Level 2

Question- i have suppliers who are also clients. (i buy and sell them) -can i define card of customer or supplier to be both ? client or supplier ?

that look like very complex...and no need as the activities do not match each other...they are not Barter...and there is no legal need for me to match them...the only issue i needed is that when i want a suplier, who is also a client , status- that we will have 1 Card of this entity to show all the activities.... if i have to open 2 -one as client, one as supplier, i need to issue 2 reports, and to make Manuel statement.. OR there is a report i can see supplier and clients status ? even in general ?together?

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QuickBooks Team

Question- i have suppliers who are also clients. (i buy and sell them) -can i define card of customer or supplier to be both ? client or supplier ?

Hi there, @userpet.

 

Currently, the option to run a report with the client and supplier's transactions is unavailable. As a workaround, you may get two separate reports, customize it with the specific name, and export it to an excel file. This is done so that you can personalize it according to your needs.

 

You can use the Transaction List by Supplier Report and Transaction List by Customer Report. To know more about how to manage your reports, you can check out this article: Run reports in QuickBooks Online.

 

I've added this reference page to help you with your tasks in the future: Help articles

 

I'll be here if you have other questions. Let me know in the comment section. Take care always.