Is it possible to link the supplier to customer and vice versa?
A supplier is not always a supplier. He may buy products from us. Similarly the opposite for a customer.
So when making a sales invoice the suppliers too should be listed under the heading suppliers and when making a purchase invoice the customers too should be listed under the heading customers.
In this case the accounts should tally with what he bought to what he sold and the remaining payment to be paid or received should be shown as his account balance.
Creating them as a new supplier or customer will not help with this and later when a customer or supplier statement is issued.
No you can’t link them, they need to be setup as both a Customer & a Supplier. To settle the balances between the accounts you use a Journal Entry - there is a Guide on this.
So you mean to say that i cannot issue a single customer or supplier statement quarterly which indicates what they purchased from me and what they sold me and how the account balance is settled?
Can we have them in the future because you know a business is a business where we give and take. We cannot just set the party as a giver or taker alone.
Not sure where we stand on this topic in Jan-2020 because the last post I see is of Apr-2018. With this post, I am also suggesting the same to link customer and supplier so that Manager does sales and purchase invoices offsets automatically and we only present a single statement to the linked customer/supplier whether they owe us “xyz” amount or the vice versa. Thanks!
