please tell me how to maintain account of a customer from whom i am purchasing goods and selling to him as well.

this was earlier discussed. please read this topic [image] Linked Customer & Supplier 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 …

create customer and supplier separately. make invoices sales or purchase as usual. for journal entry read this guide Offset simultaneous sales and purchase invoices | Manager

i did that but how can i see sales purchased and payment in a single statement

you can enter suitable details in the Narration field when making the journal entry. For example, Credit against Purchase Invoice No.32 dt.25.09.17 This will show in the customer or supplier statement.

please understand the scenario abc is a supplier and customer. i purchased goods invoice no 100 Amount Rs.1000. and i paid Rs. 900. then abc purchased from me invoice no 21 Rs. 1300.

whatever the scenario, you will have to follow the same procedure. after the journal entry your accounts payable will have a credit of Rs.1200 abc owes you. so the next time when you purchase something from abc for say Rs.1500, you will only have to pay Rs.300.

i have to enter the purchase invoice separately and the sales invoice as well. that make it double entry, i have to enter the purchase invoice to show inventory and sales invoice will minus it from inventory

without making a purchase invoice there is no record for purchase and without making a sales invoice there is no record for sales. then there is no reason to make a journal entry altogether. and you cannot maintain the account balance.

that is correct but if i do the same it makes double entries in statement

Sales and purchase same customer

sharpdrivetek September 27, 2017, 10:23am 2

this was earlier discussed. please read this topic

Topic		Replies	Views
Sale to supplier / buy from customer	14	1141	January 18, 2023
Customer &supplier account	11	1033	January 18, 2023
Linked Customer & Supplier	13	1614	January 18, 2023
How to handle contact which is supplier & customer at the same time	15	4580	January 18, 2023
Sale and purchase from the same person	3	531	January 18, 2023

Sales and purchase same customer

Related topics