Purchases

Buying from and selling to the same contact

You may have a contact who is both a customer and a vendor. You can keep an accurate record of the receivables and payables for the contact by setting up two separate cards: one as a customer and one as a vendor (To add a customer card and To add a vendor card). Then use the customer card to record sales and the vendor card to record purchases, just as you would for any other customer or vendor. Be sure to use the same account for all sales and purchases associated with this customer.

Instead of actually paying and collecting money for these purchases and sale, it may be more convenient to apply debit and credit transactions to your payables and receivables accounts for this contact.

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