Customer/Vendor Relationship wants AP/CD Payments APPLIED to their AR Invoices without cutting checks...
Our ISV Partner Borrowed Tyme provides software in the insurance industry. They have requested a feature whereby a Customer that is also a Vendor could have Payables applied to offset Billling/invoices.
The specific Use Case is that one of their Producers rents office space from them which the Producer is billed (AR). Additionally, this producer receives Commission Payments for sales made (AP) and they would like to APPLY the AP against the AR within Accounting Seed itself.
Is this possible now or can this be a feature added to a future release.
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Official comment
Hello John,
Thank you for submitting this helpful feature request. I will have the Product Development team look into this as a feature.
Comment actions -
It is not possible now.
To support this, I would create a process that would automatically convert an AP to a credit memo - be creating an AP credit memo to apply to the payabe, and an AR credit memo that could be applied to the AR. the revenue line on the AR credit memo and the expense line on the AP credit memo both should hit the same GL Account whcih would reflect a $0 net impact to the GL.
The package could be built to do that process natively, but it can be configured now without too much trouble.
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