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

[Derek Atkins]

Hi

Andrew Wasielewski <andrew at wasielewski.co.uk> writes:

> 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.

No, customers and vendors are distinct.  You can enter the same names
and addresses for Customers and Vendors but they are not considered "the
same".

> 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.

I don't think the current business design can easily support what you're
trying to do.  You might just need to do it all manually outside the
business pieces.

> Thanks in advance,
> Andrew

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-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
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