[Question] How do you offset debtors against creditors and visa versa in pastel?

[SMartin]

Good morning,


I am working on Pastel Partner. I have companies that are both a supplier (creditor) and customer (debtor)? I would like to offset / contra / move the creditor's balance to the debtor and visa versa.

Please assist on how you do this?

Your assistance will be greatly appreciate!

Many thanks!

[Neville Bailey]

The process involves two steps.

Firstly, create a suspense account in the balance sheet.

If, for example, you want to move a debit balance from a debtor account to offset against the creditor account, you first need to process a customer journal to credit the debtor and use the suspense account as the contra account. Then process a supplier journal, debiting the creditor with the amount and using the same suspense account as the contra.