I have a few customers that are both customer and supplier. How do I link the supplier and customer

Options
AirlessSprayService
AirlessSprayService Member Posts: 2
I have a few customers that are both customer and supplier. Ex. We purchase items off of them and we are a repair agent for their product. How do I link the supplier and customer accounts? Currently I have owing on the customer side and a credit on the supplier side.

Comments

  • Alex_6970822
    Alex_6970822 Member Posts: 13
    edited March 2015
    Options

    Hi

    Can you please clarify why you would need to link this customer & supplier ?

    This situation is common - but suggest you would never offset a supplier payment against a receipt from the same supplier as a customer - from a correct accounting point of view. 

  • AirlessSprayService
    AirlessSprayService Member Posts: 2
    edited March 2015
    Options

    I purchased a paint sprayer off of one of my customers because he no longer needed it and I would have a better chance of selling it. So I purchased it from him for $500. He had some services that he had done by me for another piece of equipment which he owed me $500. Currently in his customer file he owes me and in his supplier file he has a credit. I just need the 2 to match up. How do I do that?

  • Adrian_6974554
    Adrian_6974554 Member Posts: 191 ✭✭
    edited February 2017
    Options
    Have an clearing account setup as a bank account.
    Receive payment to the clearing account.
    Pay bill to the clearing account.
    Both entries have the same amount so clear each other out in the clearing account.

  • Jeff Parker
    Jeff Parker Member Posts: 14
    edited July 2020
    Options
    I'm doing some research into using RA to record/report correctly for share trading and came across this thread.

    CommSec and I guess most brokers would fall into this scenario, e.g. if you do buys and sells on the same day, CommSec credits the sale proceeds against the buys and settles with the nett amount.

    It is disappointing that RA can't have a Name that is both Supplier and Customer, so that these types of work arounds can be avoided.
  • 1468356
    1468356 Member Posts: 4
    Options

    I am the treasurer of a small voluntary organization where many members (customers) frequently purchase materials and need to be reimbursed (ie they are suppliers). I have used Reckon 2014 for years and didn't have a problem previously. Is it possible to use the same name in both lists?

  • 1468356
    1468356 Member Posts: 4
    Options

    I am struggling to adapt to Reckon One after using Reckon 2014. Another issue is how to record payments made (why do I have to issue a credit?) and how do I do a split transaction....for example, when I pay 10 people all for the same service eg reimbursing zoom subscriptions?

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,589 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited October 2021
    Options

    @1468356 Your posts are under Reckon Accounts category but are a bit confusing … Are you using Reckon Accounts or Reckon One ???

    (If Reckon One, posting your query - or doing a search - in that category should locate some answers for you on that specific program 😊)

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • 1468356
    1468356 Member Posts: 4
    Options

    Hi

    I'm using Reckon One to record the accounts of a small volunteer organisation where we all pay to be members (therefore are customers) and many of us make purchases and have to be reimbursed (making us suppliers too). When using Make Payment screen, several of my contacts drew an error response because they've been "migrated" as customers. I did phone a help line on Friday which dropped out before I had a definitive answer. I've also tried using the Reckon One search without success using the query "Can my contacts be listed as both a customer and a supplier, using the same name?"

    My second query relates to paying multiple people for the same item. In the old program (Reckon 2014), I was able to enter the item (eg Zoom subsidies) and total payment then use 'Split transaction' to list the contacts and their specific payment. In Reckon One it seems I have to do a complete entry for each individual. I wondered if I could have a contact like "Zoom subsidies" and list individuals in the comment box?

    I also wanted to make EFTPOS my default method of payment. Is that possible?

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,589 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    Options

    @1468356 I specialise in Reckon Accounts & Hosted only so can’t help with Reckon One.

    Have you looked in the Reckon One category? As mentioned previously, you should be able to find/get help for R1 there.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)