Sales > Dealing with a customer who is also a supplier
If your business sells goods and services to a business from which you also make purchases, you need to record the transactions using a separate customer and supplier card. You can then record a contra payment to offset the receivable and payable amounts.
Before you can record contra payments, you need to create a bank account called Contra Suspense. For more information, see Set up accounts.
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a
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In the Receive Payments window, click Deposit to Account and type or select the Contra Suspense account.
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b
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In the Customer field, type or select the customer’s name.
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c
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Type the amount that you are offsetting against an invoice and click Record.
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b
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In the Supplier field, type or select the supplier’s name.
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After these entries are made, your bank accounts will not have been affected, but the receivable and payable accounts will have been reduced. The Contra Suspense account balance should be zero.
