Comments for Entering Customer Payment With Deduction For Money We Owe Them

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Jul 22, 2011
Response to Anonymous July 19th
by: Rita

Thank you for your response. The A/P and A/R can be journaled but this will still leave the invoices as opened or unpaid. How can I affect the A/P and A/R, show the invoices as paid also, but not affect the income statement or checkbook balance???? so confusing:)

Jul 19, 2011
Customer Who Is Also Vendor
by: Anonymous

I believe you just need to set them up as both a customer and a vendor. Then when you receive payment from them as a customer and they deducted the amount you owed them as vendor you will simply debit the vendor A/P account and credit the Customer Accounts Receivable account. Thus bipassing the sales, purchases or income accounts that would have already been effected through the original invoice transactions.

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