Problem: How to assign Accounts Receivable from one company to another and Close this Balance?
Solution: This document will explain the transfer of accounts receivable opening balance from one company to another through Mutual settlement.
To clear off the balance, a receipt document is created for the payment received from the company.
1, Create the document Entry of initial balances with the accounting section Settlements with suppliers and buyers.
On the Settlements with Buyers tab, specify the company, the contract and the amount owed. Specify the GL account.
The sales document will be generated automatically.
2, Create a debt adjustment document with the type of the Buyer's Debt Adjustment operation (to adjust the debt transferred by a third party).
The Main tab provides general information about the settlement and the parties involved in settlement. Specify the buyer,
the accounting account, the recipient and the contract.
On the calculations with buyers tab through selection, select the sales document created when entering the initial balances.
3, Create a document Receipt of funds to the settlement account with the transaction type Other.
Specify the GL Account, company and contract.
4, Check your actions by generating reports.
The debt transferred by a third party is closed.
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