Vendor & customer same person

[tsagar]

Dear Michael,

I hope this mail does not come as a blast from the past.

You posted your method of dealing with one entity that's a vendor as well as
a customer - in 2009. You indicated that a clearing account would provide a
workaround. Also, it's highly likely that over the last five years, GNUCash
itself has undergone considerable change.

Here's my question:

In my business (trading in light emitting diodes), almost all customers are
also vendors. We supply LED light sources to organisations that assemble LED
lights. Very regularly, when a particular type of light source is in short
supply, we call up one of our other customers and buy back some of that kind
to supply to another customer. Now, creating a clearing account for each
customer / vendor can result in a lot of issues. Also, I would like to
generate account statements that contain all transactions with an entity. If
I have to have one vendor and one customer account for the same entity, I'll
need to generate two reports and merge them painfully in a manual way.

I wonder whether there's a better way of managing this. Some commercial
accounting packages have a system where you register an entity and not a
customer or a vendor. Then, you simply flag the entity as a customer or a
vendor or an employee or an agent etc. Would something like this be doable
in GNUCash?

I am aware that answering complex questions like this do require a lot of
thinking and time. I would like to thank you in advance for such time spent
by you on what is essentially a gratuitous pursuit (although it could be
immensely beneficial for me). 



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