Crediting vendor with customer bal due?

1. Create a "bank" type account called something like "Clearing and transfer". (Optional. You can use your existing bank account, but it may confuse your reconciliation process.)
2. Record a payment for the Customer account, deposited to the Clearing account. In the memo enter something like, "Applied to Bills".
3. Record payment of Vendor Bills by "cheque" from the Clearing account in the same amount. For the cheque number, enter something like "See A/R".

customer.

Much appreciated :-) Thanks for the quick answer!! best, Eric

Hello All I have the same issue and this looks like a good approach. My question is bit more basic. Do I have to have a separate Customer and Vendor record for this individual?

Many thanks

jeff

Yes. The Customer/Vendor names must not be identical. The difference can be trivial such as a dot after an initial or a trailing comma or dash. Also note that the "Name" is really equivalent to what some programs call "ID" and need not be the same as the "Company Name".

question

What I've found best, and I believe I found the tip on this group was use the same name but to put a {V} or a {C} at the end of each to differentiate them.

Hope this helps.