Problem: How
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to adjust Customer Account with Shareholder's account (
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as Shareholder is Owner
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of Entity)?
Solution:
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Use Mutual Settlement and Other Expense document as shown below.
1. To write off Receivable Balance, create Mutual Settlement document with Transaction Type - Customer Debt Adjustment, . Select relevant Expense GL account in Account field any Expense GL account can be selected
2)In Accounts Receivable Tab :
See also 7.5.10.4.1. Creating a Mutual Settlement document. The Main tab
2. At Accounts Receivable tab, select the unpaid Invoice from this Customer , you (please can use Pick options to select outstanding invoices):
3) Enter Reversal Other Expense Transaction, to
See also 7.5.10.4.2. Creating a Mutual Settlement document. The Accounts Receivable tab
3. Enter Other Expense with Transaction type Reversal to adjust Expense with Shareholder's account:
See also 7.5.4. Other Expenses
4) Check the transaction's Accuracy
. Check the records in General Ledger:
See also 7.2.3. General Ledger
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# receive payment from owner account pay for customer