Problem: How can I adjust Supplier Payable Account with Shareholder's account (As Shareholder is Owner that company as well)
Solution:
1) Enter Mutual Settlement to write off Payable Balance, Transaction Type - Supplier Debt Adjustment, in Account field any Income GL account can be selected
In Accounts Payable Tab select the payable document from this Supplier, you can use Pick options to select outstanding invoices
Mutual Settlement will create following transaction:
3) Enter Reversal Other Income Transaction, to adjust Income with Shareholder's account
In GL Account CR Shareholder's Account (BS Capital Issued) should be selected with Company (shareholder can be created as a company) and Contract in Dimension, in Account Dr PL Income Account that was added in Mutual Settlement should be selected:
Other Income document will create following transaction:
