Cannot pay Sales invoice with Vendor Credit

[JordanCN]

We have a vendor that is also a customer. They purchased something from us and we from them, both about $1000. The vendor wants to use their $ due from us to pay of their debt to us.

On another system we have that still uses Dynamics 6 we could use the $ due to the vendor and pay their customer account with it, but on our division using Dynamics 10 we get a script error. Maybe I am just doing the steps wrong.

What do I need to do to pay customer CUST01's A.R. Due from vendor VEND01 A.P. due amount?

 

[VictoriaYudin]

There are 2 options for this:

1. Use the Customer/Vendor Consolidation module. This will allow you to map a customer ID to a vendor ID and automate the consolidation of AP and AR transactions that belong to the mapped customer/vendor. Customer/Vendor Consolidation module licensing greatly depends on the GP licensing you have - it is not available for all licensing modes and is sometimes an additional purchase. If you do not own it, this one situation may not make the purchase worthwhile, because there is a manual way to handle this:

2. Use whichever is the smaller amount (AR or AP) as the amount of the following transactions:
a. Enter a credit memo in AR for the customer, debit a suspense account, credit AR. Apply the credit memo to the invoice(s) for the customer.
b. Enter a credit memo in AP for the vendor, debit AP and credit the same suspense account you used in (a). Apply the credit memo to the vendor invoice(s).
c. Now you are left with a balance, either in AP or AR, whichever was larger.

Hope that helps.

Victoria Yudin
Dynamics GP MVP 2005 - 2009
Flexible Solutions - home of GP Reports

http://www.flex-solutions.com/gpreports.html

blog:

http://victoriayudin.com

 

[janakirammp]

As Victoria said, Customer/Vendor Transactions feature available in Dynamics GP 10 is apt for your scenario. You can have a look at my blog post on Customer/vendor Transactions

http://janakirammp.blogspot.com/2009/07/customervendor-transactions.html

Thanks
Janakiram M.P.
MCP-GP

http://janakirammp.blogspot.com