HELP CENTER

Question:

How do I perform contra / offset my customer and supplier outstanding?

Answer:

1) Firstly, create Journal Entry by going to Accounting > Journal Entry. In Journal Entry Credit Customer and Debit Supplier and save Journal Entry. 

2) For the Customer, go to Accounting > Knock Off Entry to create a knock off entry for Customer. You may knock off the Journal Entry against the outstanding Invoice. Do make sure the Total Applied Amount is 0.00 and click on Save.

3) For the Supplier also, create a knock off entry and knock off the Journal Entry against the Purchase Invoice. Do make sure the Total Applied Amount is 0.00 and click on Save.