AR & AP Contra
This module is useful when you have a customer who is also a supplier. If this happen, you may want to offset the outstanding customer and supplier invoices. The process is known as making a contra entry.
In NCL Accounting, you can offset the two invoices by using the AR & AP Contra. Therefore, when you record the invoices as being paid, it will not appear in your bank statement.
In the Listing page, you may filter the display result based on the following criteria: Customer, and Doc Date.
In order to offset both the customer and the supplier invoices, you will first have to make sure that your customer is already in your supplier list. If you are not sure, you can check the Supplier Listing page. Otherwise, you can refer to our guide on how to create new supplier account.
First, navigate to the Entry page by clicking on the button. Then, you may select your customer and supplier from the drop-down menus.
In order for you to apply the contra, you must first the set the amount that you wish to contra under the Amount* field. Then, you can select your Currency* from the drop-down list. The currency is set to Malaysian Ringgit (MYR) by default.
As you may have noticed by now, selecting your customer and supplier will open a list of outstanding invoices related to both parties. To apply the contra, just check the box next to the Invoice No.
Once you are done, click on the Save button to save the record made.