Party

A party is the person or business on the other side of a receivable or payable: a customer who owes you, a supplier you owe, an employee with an advance, a shareholder. Debtors and Creditors are single accounts, but every row posted to them must name a party, and that is how BRAccount shows a ledger per customer or supplier, ages unpaid invoices, and lets a Payment Entry be allocated to the right bills. The party also carries the PAN for tax invoices and the Tax Withholding Category for TDS. A Journal Entry to Debtors without a party is rejected, since nobody could be asked to pay it. Keep one party record per real counterparty to avoid split balances.

1. 01Go to Selling > Customer or Buying > Supplier and open or create the party, filling PAN in Tax ID.
2. 02On a Sales Invoice or Purchase Invoice, pick the party first; the receivable or payable account fills itself.
3. 03On a Payment Entry, set Party Type and Party; the unpaid invoices of that party list for allocation.
4. 04Submit. The GL row on Debtors or Creditors carries the party name.
5. 05Open Financial Reports > General Ledger with Party = Jivan Dahal to read his statement.

Receivable and Payable accounts always carry a party, so ledgers can be read per customer or supplier.

Debtors with party Jivan Dahal shows what he owes: Rs 0 after his payments.