Accounting question. I have a customer with several years of outstanding invoices. They are about to be paid, but another customer is going to do the paying.
I am looking for the best way to record and track this. The process discovered earlier this year for handling employee expensed vendor purchases in LedgerSMB, should work in reverse for this I think. That process was: 0. Create two vendors: real and employee. 1. Bill real vendor. 2. Pay from a liability bank account. 3. Pay the employee from the real bank (asset) account, balancing against an AP clearing account (liability), via cash -> payments [all]. 4. Transfer from the AP clearing account (liability) to that liability bank account to balance the books. I am thinking that the mirror image of this process would be: 0. Create two customers: original and payer. 1. Bill the original customer. 2. Receive payment to a fake asset bank account. 3. Receive a payment from the paying customer to the actual asset account, balancing against an AR clearing account (asset), via cash -> receipt [all]. 4. Transfer from the fake asset bank account, to the AR clearing asset account, to balance the books. Do I have this right? The order of steps 3 and 4 on both of these probably don't matter much. Luke ------------------------------------------------------------------------------ Download Intel® Parallel Studio Eval Try the new software tools for yourself. Speed compiling, find bugs proactively, and fine-tune applications for parallel performance. See why Intel Parallel Studio got high marks during beta. http://p.sf.net/sfu/intel-sw-dev _______________________________________________ Ledger-smb-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
