In most businesses, we come across the situation where a vendor is become a customer to us and vice versa. In these types of cases, we will need to consolidate the customer and vendor activity so that we get a true view of balance. In this article, I'm going to show you how you can consolidate vendor and customer invoice using Microsoft Dynamics GP in 2 parts. Setting up Customer/Vendor Consolidations Path: MSDGP > Tools > Setup > Company > Customer/Vendor Setup 1. Assign a Suspense Account that will act as an offset account between the Receivables and Payables. This account is used whenever the customer/vendor transactions are posted as offset account. This account should not have balance at all time. 2. Assign Default Vendor and Customer Classes to be mapped when a vendor or customer is auto-created using Customer/Vendor Maintenance. 3. Select [Relationships] to map the Vendor and Customer Relationship. 4. In this ...
Act as Microsoft Dynamics GP Consultant nearly 10 years now, based in Malaysia. Following an early career as statutory auditors and independent accountants to a range of growing businesses in the finance industry, later moved into the area of IT in business with the expansion of technology. Offering implementation, support and training Microsoft Dynamics GP to customers for more than 10 projects across ASEAN region. Now we are offering Dynamics 365 Business Central implementation too.