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Thread: old fashioned bartering causing pastel accounting problems!

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    old fashioned bartering causing pastel accounting problems!

    Hi everyone

    has an one a solution to my supplier and customer invoice problems...

    we occasionally exchange our vehicles with other companies for their vehicles(trucks),an invoice is still processed on pastel for the customer for example of R100 000, and our supplier invoice after receiving their vehicle of R100 000....

    this still leaves my customer with an outstanding balance on my system of R100 000 and our supplier ledger still reflects a balance of R100 000.

    how can I bring this to a zero balance?

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    Site Caretaker Dave A's Avatar
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    I don't use Pastel, but I suspect my solution would work anyway - set up a contra account as a bank account. It'll always have a nil balance at the end of the day, but you can use it to receive and make payment of contra'd amounts. It's also a pretty cool way to keep track of all contra'd transactions in one place, if anyone ever wants to examine them.
    The trouble with opportunity is it normally comes dressed up as work.

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    Platinum Member Neville Bailey's Avatar
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    That's a good idea Dave.

    Another option would be to process a customer journal, crediting the customer account and using a suspense account as the contra account. Then process a supplier journal, debiting the supplier account and using the same suspense account as the contra account.
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    thank you Neville and Dave A ,it worked out perfectly!

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