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LisaMT's avatar
LisaMT
Contributing User
8 months ago

Contra between Supplier & Customer

Have a Supplier who is now also a Customer. How in Advanced do I offset the payment received from the Supplier with the open Customer invoice? I have a contra general ledger account setup and we us...
Will_H's avatar
Will_H
MYOB Moderator

Hi LisaMT ,

I believe you shouldn't need a contra account if you're using MYOB Advanced Business.

 

 

Both Suppliers & Customers are keyed off Business Accounts, you should be able to use the Business Accounts form CR303000 to extend an account to being both a customer and a vendor.

 

This might mean you need to do something to delete/merge your existing account.

Full help should be in product, I've pulled this infromation from the basic Acumatica documentation here: https://help.acumatica.com/(W(203))/Wiki/ShowWiki.aspx?pageid=f1222a9d-c179-40eb-8037-4eb238ececc3

 

Sorry I don't personally know much about the process for merging accounts in Advanced, that's never been an area I've gotten a lot of experience with.  Hopefully the above helps get your started though.

LisaMT's avatar
LisaMT
Contributing User
7 months ago

Thanks Wil,

 

I got the setup sorted after going through your details.

Now I need to work out the banking side - supplier has reduced their bill (AP) by the amount they owe (AR).

Thanks for your help.

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