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Can someone explain how to do an AR / AP swap. We have a vendor that we owe $1000, yet this company is also a customer that owes us $1000 in the Sales Module. I need to know how to do this without touching the bank cash accounts or any type of refund GL accounts. And, what distribution accounts do we use?
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Kimberlee, this is what Customer/Vendor Consolidations is used for. If you have this functionality, then I would suggest reading the Help files, which can be accessed via the Help button on the Customer/Vendors window under either Sales or Purchasing Cards. If you don't have this functionality, then it is a strictly manual process where you would have to enter a credit memo on the Sales side and a Debit memo on the Payables side to clear the respective invoices through a clearing account.
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