Forum Discussion

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.

  • Will_H's avatar
    Will_H
    MYOB Moderator
    7 months ago

    Hi LisaMT ,

    Ah, ok here's the part where we end up with an effective contra account I think.

     

    This discussion over at: Acumatica Community Forum - How do I apply a Vendor bill to a Customer invoice? 

     

    Acumatica support (underlying technology) listed: 

    Here is a workaround you can try, as there is no direct option :

    • Create a dummy clearing/ cash account used exclusively to apply AP bill to an AR invoice
    • Create a payment method , enable use on AR and AP module, link it only to above cash account
    • Make a payment for AP bill using above payment method
    • Receive payment using this payment method on AR invoice
    • Net balance on Cash account will be zero ( the dummy clearing account )

    Hope this helps,

    Regards,

    VijayKumarU

    Let me know if that works. though if you need more help it'll probably be support desk/implementer time, unless someone else can swoop in with answers.

     

    For the community at large:

    • Has anyone else used the above method? 
    • Do you have your own method you use?

    • LisaMT's avatar
      LisaMT
      Contributing User
      7 months ago

      Will_H,

       

      Thanks again.

      This has been very helpful.  I think I'm almost there. ☺

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