Using A/Receivable and A/Payable...with the same people

[Andrew Wasielewski]

Hello again,

Is it possible to have the same entity set up as both a Customer and a Vendor for use with A/Receivable and A/Payable.  For the residential management company where I am setting up the accounts we would like to have an account (effectively a Loro A/c) for each flat.  We would book the service charge as an A/R when it falls due, and if we need to make any payments to the flat owner (e.g. if they do any work for us or pay for anything communal out of their own pocket) we would credit it as a A/P.  If they can have both Customer and Vendor roles we would then use the customer reports to produce a balance statement.

Related to this, how could we set up the opening balances for each flat?  This would need to be in either the A/R or A/P account (depending whether or not they start in credit) with the balancing entry in Equity.  However it isn't possible to create an invoice using an Equity account.

If there is another way to do this (e.g. Cost Centres) that would be fine as well.

Thanks in advance,
Andrew