Summary

If you have a customer account which is also a vendor account, you can now link them together, so that their balances are displayed on their respective customer or vendor card.

The below image illustrates a customer card and a vendor card of linked accounts, and the balances that are displayed of their respective/linked card.

In addition, once the accounts are linked, there is a new routine inside the payment journal batch, which will automatically add the outstanding balances of these linked accounts.

These can then be balanced to each other and will just require a final check for amendments, or posting the journal batch to clear the balances of these transactions.

How do I do this?

NOTE: There is an initial set up requirement to link these accounts before this routine can be used as outlined below.

Initial set up to create a Customer/Vendor link

On the Vendor or Customer card you must create a contact link from either the Customer to the Vendor card or vice versa.

In order to create this company contact link, you’ll need to remove any existing contacts that have been set up against either the Vendor Card or the Customer Card – the card you are creating the link from can have contacts in the card, but the card you are linking to must not have any contacts.

Once you have removed all contacts from the account card you want to link to, you can open the corresponding account in the other ledger which has the company contact.

The example below shows choosing the Vendor card to remove the existing Company and Contacts to create the link from the customer card.

1. In the customer card, open Contacts Page > Navigate > Contacts

2. Select the Company Contact (the Contact record that is bold) – or you can create a Company Contact if there is not already one.

3. With the Company Contact Page open, click on Actions > Functions. This will link with an existing Vendor.

4. Select the correct Vendor and change Current Master Fields from Contact to Vendor.

This will set up the link between the two accounts. The Contact Business relation type changes from Customer to Multiple.

5. Once the accounts have been linked you can use the new routine inside the Payment Journal, called Net Customer/Vendor Balances.

6. Open a Batch Journal inside the Payment Journal Template.

7. From the Action Menu, click on Prepare > Net Customer/Vendor Balances

• A report filter will allow you to select various criteria to reduce and prioritise which transactions are displayed.
  

• This will then create journal lines for the linked accounts and the outstanding balances that can be matched to each other. This is like any other journal batch where you can make amendments before posting. So, if there are any lines that you don’t want to match you can simply just remove.

8. When happy, post the Journal Batch and the overall balance for the linked accounts will be reduced by the values on this journal.

Further Information

If you have any questions about this or need assistance, then please contact the GCC Group Support Team on 0345 260 1151 or servicedesk@gccgroup.co.uk