How to Match a Net Payment Against a Sale and Purchase in AccountRight

Hi Paula3,

Thanks for sharing what you are trying to do. Having the same customer as a supplier can definitely make the recording a bit complex.

If the $300 purchase is from the same business and was agreed to offset part of the $1,000 sale, you’ll need to record the $300 offset separately, then match the remaining $700 payment in your bank feeds.

1. Make sure the $1,000 sale and $300 purchase are recorded.
2. Create or select a bank-type account called Contra Payment or Contra Clearing.
3. Record a $300 customer payment against the sale, using the contra account as the deposit account.
4. Record a $300 supplier payment against the purchase, using the same contra account.
5. Record the remaining $700 customer payment into your actual bank account, then match the $700 bank-feed transaction to that payment.

The contra account should return to $0.00 once both entries are recorded. You can find more information in Dealing with a supplier who is also a customer. If you’re unsure about the accounting or GST treatment, it’s best to check with your accountant.

Regards,
Genreve