You can use the Contra Settings when you have a customer who also sells to you and you wish to offset any money owed by this customer against money that you owe them.
The Contra Settings section is only visible once you save the customer, or if you edit an existing one.
To set up a contra relationship between a customer and a supplier, you need to have existing supplier records in the Creditors or Purchase Ledger module.
Link a supplier to a customer
Click Creditors then click Suppliers.
Note: All suppliers are displayed for you. You can narrow down you search using advanced filters. You can also search on the columns directly by pointing the mouse to the name of the column and click on the 3 small horizontal lines and choose from the available filter list, then click OK.In the Code or Name column, click the hyperlink, the underlined text to put the customer record into edit mode.
Note: The Action Panel automatically opens from the right-hand-side of the screen. You can close the panel by clicking on the arrow icon on the right-hand side middle of the screen.Click the Settings tab then scroll down to Contra Settings.
Click + New Contra then search for the supplier or select them.
Click the cog icon to access the following options:
Configure Columns | You can remove either the account name or account code columns. |
Reset Sorting | All the columns are sortable and selecting Reset Sorting removes the sorting on the column you select. |
Refresh | Refreshes the screen you're on to ensure that any new records are visible to you. |
Delete | Removes the supplier and customer contra relationship. |
Link a customer to a supplier
Click Debtors then click Customers.
Note: All customers are displayed. You can narrow down your search by using the advanced filters. You can also search on the columns directly by pointing the mouse to the name of the column and click on the 3 small horizontal lines and choose from the available filter list, then click OK.In the Code or Name column, click the hyperlink, the underlined text to put the customer record into edit mode.
Note: The Action Panel automatically opens from the right-hand-side of the screen. You can close the panel by clicking on the arrow icon on the right-hand side middle of the screen.Click the Settings tab then scroll down to Contra Settings.
Click + New Contra then search for the supplier or select them.
Click the cog icon to access the following options:
Configure Columns | You can remove either the account name or account code columns. |
Reset Sorting | All the columns are sortable and selecting Reset Sorting removes the sorting on the column you select. |
Refresh | Refreshes the screen you're on to ensure that any new records are visible to you. |
Delete | Removes the customer and supplier contra relationship. |
Example of a contra relationship between a customer and a supplier
You raise a sales ledger invoice for example for Annual Renewal with an amount of £1000.
You raise a purchase ledger invoice for Office Stationery with an amount of £250.
The contra posting offsets the purchase against the sales leaving your customer with a balance to pay of £750.
Delete a contra setting
Click Debtors or Creditors then click Customers or Suppliers.
In the Code or Name column, click the hyperlink, the underlined text to put the customer record into edit mode.
Click the Settings tab then scroll down to Contra Settings.
Select the relationship then click the cog icon.
Select Delete then click Continue.