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contra charging feature
Posted: Sat Jan 26, 2008 4:57 am
by srinivasu
hi
Please scribe contra charging and its importance in ap,and ar.
help me out
srinivasu
Posted: Sat Jan 26, 2008 10:53 pm
by byswamy
Hi All
Contra charging means when the customer and supplier are the same u will go for contra charging.
Ex: U rised transaction in AR for 10000, by mistake or any other reason he made 11000. so now we have to pay 1000 to customer. we cant pay 1000 rs in AR. for that we use AP for paying the money..
Ex2: A supply the rawmaterial(iron) to the B. A needs the machins from the B. so A plays the supplier and customer
Setups. Define supplier as customer and VAT registration number should be same.
when u run the contracharging report, it displays the payments, receipts and difference amount
based on this eaither u pay or recieve the money
Regards
swamy
Posted: Thu Jan 31, 2008 1:28 pm
by Murthyoracle
Hai Swamy the example with scenario is really good and clear. I am having small doubt that, you are telling that Contra Charging Report , can we treat this as Supplier Customer Netting concept and if so ,we can run Supplier Customer Netting Programme from Payables.
Let me clarify.
thanks in advance,
Murthy