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Handling Party Accounts
krvenkata
Member Posts: 154
Hi
I would like to know how NAV handles party accounts. My vendor is also my customer and all his receivables will be adjusted against the payables. Is there a way i can do this thru some process without creating a separate code? Even if i create a separate code, how do i knock off the receivable vs payables?
Thanks
Venkat
I would like to know how NAV handles party accounts. My vendor is also my customer and all his receivables will be adjusted against the payables. Is there a way i can do this thru some process without creating a separate code? Even if i create a separate code, how do i knock off the receivable vs payables?
Thanks
Venkat
0
Comments
http://en.wikipedia.org/wiki/Transactional_account
There are addon's for financial management available which can handle the customer being a vendor by listing the open vendor ledger entries items below the reminder lines, the standard does not.
I did not mean Transactional account. What i meant is my customer is also my supplier and i need to knock off my receivables against my payables within NAV.
As far as my knowledge about NAV, there is no such provision. You will have to use a separate Ledge account, to knock off the entries between the customer and vendor. i.e. make payment to vendor using this ledger and receive payment from customer on the same ledger. Net effect in the ledger will be always zero.
Regards