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How can i adjust balance of vendor and customer?

By informabdul ·
Suppose i have a vendor account for M/s ABC whose payable is 50000 and i have customer account for the very same vendor and receivable amount is 20000 because he also purchases my product. Now he is asking me to adjust payable balance with the receivable. How can i do this please guide me. Thanks
I am using Peachtree Complete Accounting software

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here's a tutorial page

by PurpleSkys In reply to How can i adjust balance ...

i would start there http://www.glencoe.com/sec/accounting/tech/peachtree/tutorials/index.shtml

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Alarm bells go off

by Tony Hopkinson In reply to How can i adjust balance ...

Make sure you are both working from the same terms and conditions.
If they are due to pay you before you are due to pay them. Not to say you shouldn't do it, but you might want to discretely wonder why they need your 50, to pay their 20, and check your cash flow.

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