Matching sale and purchase to bank deposit

Question

I have a customer & supplier with whom I have sales and purchases.

The customer/supplier pays me a net amount.

I can match a sale to the bank deposit. How can I match a purchase to the deposit to reconcile it?

For example:

Sale: $100

Purchase: $10

Bank deposit: $90.

I can match the $90 to the $100 sale but I can't seem to match the $10 purchase to finish it off.

Thanks

Genreve_S · Accepted Answer

Hi @GeoffSchmidt,

When you have the same customer as a supplier, you'll need to create a contra account to record both sales and purchases for that customer. This process will add a layer of complexity in recording. For detailed guidance, please read through this article.

Regards,
Genreve