rcalton wrote the following post on 8/20/2001 12:19:00 PM
WE HAVE CUSTOMERS THAT ARE ALSO VENDORS. SOMETIMES THEY WILL APPLY A/R INVOICES TO A/P INVOICES AND END UP WITH A BALANCE THE EITHER THEY OWE US OR WE OWE THEM. WE SET UP A TRADE/EXCHANGE EXPENSE ACCOUNT TO HELP BALANCE THIS OUT. WE ENTER CUSTOMER AND VENDOR TRANSACTIONS AS USUAL TO KEEP REVENUES AND EXPENSES ACTUAL. THEN WE CREATE A CREDIT TRANSACTION FOR CUSTOMER IN SALES/INVOICING AND APPLY THE NEGATIVE AMOUNT TO THE TRADE/EXCHANGE G/L ACCOUNT AND SAVE. THEN WE CREATE A CREDIT TRANSACTION FOR VENDOR IN PAYMENTS, USING THE CREDIT MEMO NUMBER IN PLACE OF A CHECK NUMBER, CLICK ON APPLY TO INVOICES TAB, AND VERIFY THAT THE "CASH ACCOUNT" IS LISTED AS THE G/L TRADE EXPENSE ACCOUNT, THEN FIND THE ORIGINAL INVOICE AND CLICK ON THIS TO PAY, AND CLICK SAVE. THEN TO RECONCILE CREDITS WITH CUSTOMER'S INVOICE, WE GO TO RECEIPTS, ENTER CUSTOMER ID, CLICK ON APPLY TO INVOICE, AND CLICK TO PAY BOTH THE INVOICE AND THE CREDIT. IF THE AMOUNTS WERE THE SAME YOU HAVE A ZERO RECEIPT. IF THE CUSTOMER OWED US A BALANCE, IT WOULD POST TO OUR TRUE CASH ACCOUNT, AND ALL IS WELL. HOWEVER, WE RAN INTO A PROBLEM WITH THIS SCENARIO: IF WE OWE THEM A BALANCE, IT TRIES TO POST AS A NEGATIVE RECEIPT TO OUR CASH ACCOUNT [AND WE STILL NEED TO WRITE A CHECK TO THE CLIENT TO PAY OUR BALANCE DUE] - DOES ANYONE HAVE A GOOD SOLUTION? PLEASE ADVISE.