AR & AP Settlements

Posted By Roshan Mahendra Marcus over 1 year ago

Hi, we purchase goods from a supplier and we sell items to the supplier as well. therefore, the Supplier A is in both AR and AP Ledgers. so, they settle our payments after deducting their outstanding (our AP balance under the same supplier A) therefore, can you advise us what is the best way to settle these? do we have to make an adjustment entry everytime?

0 Jay Converse Acumen over 1 year ago

www.systronics.com/
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0 Roshan Mahendra Marcus over 1 year ago in reply to Jay Converse Acumen

can you explain the path to create a settlement group?
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0 Jay Converse Acumen over 1 year ago in reply to Roshan Mahendra Marcus

Get the product and read the documentation.
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0 Eva Paterson over 1 year ago

you can create a bank account called OFFSET, do the payment in AP against that bank account and do the receipt in AR against that bank account.
Make sure that bank account balance is always zero and you can see that the payment\receipt is against the offset account.
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0 Vincent Simelane 2 months ago

Hi

I had the same challange a while back, ended up investing on systronics AR&AP Settlement modules it worked like a charm, hit them up on [email protected] or check their website http://systronics.com/?p=products/ao#overview.

Thank you
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