Accounting & Bookkeeping & Small Business Forum

[RobJ]

isaac_cm wrote: ok
I was using Peachtree I also tried Quickbooks and now trying to make my own small software , so be free to tell me how to do what I want in Peachtree or QuickBooks

and yes I use invoices

Thanks alot
Unfortunately, I misspoke in my earlier post when I said that there are ways to accomplish what you're looking for in QuickBooks. Once I tried to put my ideas to use in QuickBooks Pro 2007, I quickly learned that what I thought would work, in fact, won't work. It is possible to create a custom report in which you could select both the customer and vendor name and obtain a combined balance. The report can be memorized so that it can be used time and time again. Personally, I wouldn't find that particularly useful.

The best method in QuickBooks (and this is probably true of Peachtree) is to follow the steps I outlined in my earlier post (add the company to both the customer list and the vendor list. You would have to manually check both lists to get a clear picture of what the company owes you and what you owe the company. The fact that the name would have a designation - (1) or (2) - would serve to remind you that this company is both a customer and a vendor.

I wish that I could be more helpful. Perhaps someone else on this board can think of a better solution.

Rob

[isaac_cm]

Thanks alot RobJ I appreciate your effort with me,

I am thinking now to make sales to vendors as a purchase return this way I keep track of only one account to each vendor.

Regards
Isaac

[Ahshucks]

A sale has to be recorded as Income to the business whether or not it is a barter. You'll have to record the appropriate sales tax due to the proper taxing authorities as well. It would be better to set them up both in payables and receivables and exchange checks. You can quickly call each up to your screen to see which is higher.