Contra between sales and claim
Hi. I've been stuck with this situation for weeks now. Ok first of all, my company is operating taxi@cab rental. In the rental agreement, my company will bear all maintenance costs. So lets say, ...
Hi munirahalias
I would suggest following this online Help article to set up the contra deals - Dealing with a supplier who is also a customer.
While in your case the the claim is used to offset the expense, it will still need to be recorded in payment forms via the contra account. The claim payments are refunded from the contra account, then the invoice payments are received into the contra account to return its balance to 0. If the claim is not refunded in full, partial payment can be recorded as well.
It would be best talking to your bookkeeper/accountant for the best way to record these transactions suitable for your business set up. I hope this helps.
