How to swap ac payable and ac receivable

[phudongsundar]

I have receivable 90000 from Abiraj (customer) and now he supplies goods of 130000 in credit as payable. I have paid in 40000. But in Manager how to make zero balance of Abiraj Or how to swap these accounts

[eko]

You need to make Abiraj both a customer and a supplier. See screenshot:

Then use sales invoice or receipt of 90000 with Abiraj selected as Customer and purchase invoice or payment of 130000 with Abiraj selected as Supplier

[sharpdrivetek]

@eko

Then use sales invoice or receipt of 90000 with Abiraj selected as Customer and purchase invoice or payment of 130000 with Abiraj selected as Supplier

This would not be the right method because there is no monetary transaction for 90000 or 130000. Only a payment transaction of 40000 towards the accounts payable is required. The difference need to be handled by a journal entry between the accounts receivable and accounts payable so that the balance becomes zero.

[Mark]

As a new user it’s recommended to start by reading the Guides, in this particular case this one, and/or by searching the forum using the icon in the upper right corner.