Skip to content

Dealing with a supplier who is also a customer

If you have a customer who is also a supplier, set up two contact records for them: one as a supplier and one as a customer. You can then record payments and receipts as you usually do.

However, another way you can manage your payments is to offset your outstanding customer and supplier invoices by recording a contra payment. This topic explains how to do this.

First, you need to create a separate customer and supplier contact in MYOB. You then record invoices and bills against these contacts. This is the same process as you usually do.

When it comes time to pay, you record a contra payment that offsets the sale and purchase amounts. To record the payment, you'll need to set up a contra payment account. This account works like a bank account, but it's simply a clearing account which doesn't record actual cash.

OK, let's take you through it.