I Buy And Sell To Same Party, How To Manage That In Book Keeper App | Can Same Account Be In Customer Supplier Both | How To Purchase And Sell To Same Party

Make sure you are on latest update of Book Keeper.

Book Keeper Windows: v7.1.8

Book Keeper Android: v9.2.1

Book Keeper iOS: v7.3.2

There are two methods which are applied in the Book keeper in the case of Buy and Sell to the Same Party.

1st technique:

a. Find out, do you purchase more from this party and sell less items?
    or in simple terms, if you make more purchase vouchers for this party and less invoices
    Then create his account under Sundry Creditor/Supplier

    Now you can create normal Purchase vouchers and Payment To Suppliers
    and while selling, you can create normal Sales Voucher and there it will show you option to
    Set Off Against Purchase

   You will be able to view combined Ledger report. No manual work, No manual adjustment.

b. If you sell more items to this party and purchase less
    Then create his account under Sundry Debtor/Customer
 

    Now you can create normal Invoices and Receipt From Customer
    and while purchasing, you can create normal Purchase Voucher and it will show you option to
    Set Off Against Invoice

   You will be able to view combined Ledger report. No manual work, No manual adjustment.

Or 2nd technique:

You can create two different ledger Accounts and while creating it, just mention the Account name along with that mention whether its a customer or Supplier.

For instance,

Account name: Mohit (Customer)  for Sundry Debtors

Account name: Mohit (Supplier) for Sundry Creditors.

However, you need to create one Account group for both of the Accounts like Mohit medicines and Select the group account  in both the Accounts in order to check the Ledger report.

You can view two separate ledger reports for the same party in one single page without any further calculations or difficulty.

For your reference, please check the below video where we have explained everything in detail:

https://youtu.be/N6orkGipWjg

You can follow any one of the method in Book keeper as per your own preference which looks easier and simpler.

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