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SSM2021's avatar
SSM2021
3 years ago

how to offset a sales invoice to a purchase invoice

Hi,   Customer short paid sales Invoice $4000.00 as they had an outstanding purchase invoice for that amount ($4000)  what is the process so I don't have any outstanding money in either the sales ...
  • LRBooks61's avatar
    LRBooks61
    3 years ago

    Hi

     

    You could set up a bank account called Contra and record both transactions to that bank account . This records the payments for both the sale and the bill but offsets each other

    OR you process both of the transactions to undeposited funds and then prepare the deposit in the bank ( this would be $0.0) 

     

    Hope that helps

     

    Lisa

LRBooks61's avatar
LRBooks61
Ultimate Cover User
3 years ago

Hi

 

You could set up a bank account called Contra and record both transactions to that bank account . This records the payments for both the sale and the bill but offsets each other

OR you process both of the transactions to undeposited funds and then prepare the deposit in the bank ( this would be $0.0) 

 

Hope that helps

 

Lisa

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