Party Link

A Party Link ties a Customer record and a Supplier record that are the same organisation, for example a company you both buy from and sell to. With the link in place, Payment Reconciliation and the Payment Entry can show the organisation's receivables and payables together so one can be set off against the other, and the customer statement can show both sides. The link posts nothing; the actual set off is a Journal Entry that debits Creditors and credits Debtors for the same party, each row naming the party. Without the link the two balances sit apart and someone eventually pays a supplier who still owes you money.

1. 01Create both the Customer and the Supplier records for the organisation.
2. 02Go to Invoicing > Party Link > New, choose Primary Role Customer and pick the customer.
3. 03Pick the matching Supplier as the Secondary Party and Save.
4. 04To net the balances, post a Journal Entry debiting Creditors and crediting Debtors with the party on each row.
5. 05Submit; the entry below posts and both balances fall by the set off amount.

Create under Accounts > Party Link when you both buy from and sell to one company.

Link the customer and supplier records of Market mind investment group to settle Rs 1,40,000 payable against sales.