Customer-Vendor Settlement

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Posted on by Fahad Safder

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Hi !

We've got a vendor who is also our customer. We've setup the customer side in accordance with this, but the client requires the system to automatically settle the customer-side balance with the vendor-side balance and display a net balance on the vendors side (the customer side sales are almost always lower than the purchases).

Would anyone know how this can be done without manually passing a General Journal entry?

#wow-factor

Thanks !! :)

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André Arnaud de Cal... 301,158 Super User 2025 Season 2 on at

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Hi Fahad,

At least you need the general journal entries as the customer and vendor balance accounts needs to be posted as well. The process is now manual, but you can consider creating a customization to have the journal lines created based on customer <> vendor transactions.

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Fahad Safder 365 on at

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Thanks Andre !!

Will try..

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Daxer Persson 3,005 on at

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Have a look at the reimbursement function in Accounts Receivable > Periodic. This makes it possible to transfer customer amount to vendor account - with automatic posting in journal. and automatic settlement of customer amount.

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Josh Hu on at

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Hi Daxer,

I don't quite agree with you.

Customer Reimbursement form is to transfer credit amounts for selected customers to vendor accounts for each customer. Credit amounts can be the result of overpayments or credit notes.

But actually, vendor and customer settlement is always between vendor AP credit side and customer AR debit side, which means reimbursement form is not an appropriate way for this case.

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Deepak Varma 52 on at

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Dear Josh,

Can you please explain what is the procedure for this scenario.

Regards

Deep

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guk1964 10,888 on at

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Tyr the Hungarian localisation for compensation

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CapsLock 1,419 on at

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Hi, I tried the Polish localisation, which in theory is the same as the Hungarian one but I can't make it work. I can create the compensation journal but when I try to post it I get an error message: There can only be one vendor or customer transaction per voucher. Do you know how to solve this?

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K_G 142 on at

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With the GBR localisation, you can post a single voucher which has both a customer and supplier (vendor) entry. You must have the multiple transactions per voucher functionality enabled.

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