Customer Contra

Menu: Customer | Customer Contra...

Introduction

• To make settlement of the outstanding between both customer and supplier accounts without any monetary transactions.
• It will use an intermediate accounts known as Contra Account. This account balance must be ZERO.

Customer Contra - Basic Entry

1. Click on New button.

2. See the New Customer Contra entry form screenshot below.

3. Select the Customer Code. Direct key-in and search by either customer code or name.

4. Enter the Contra Amount (follow the customer currency).

5. Below is the example of the entry created:

Double Entry will be:-
                                    DR           CR
 Contra Acc                RM 100.00
 Customer Control Acc                   RM 100.00

Tips:
To ensure the contra account has set properly. [Contra Account]

Customer Contra - Knock-Off

Purpose to knock-off the invoices:

1. To show the outstanding invoices in Customer Aging Report.

2. To indicate the contra knock-off the invoices in Customer Statement.

Document Knock-Off

1. You can enter the knock-off amount into Pay column (auto tick).

2. Unapplied Amt will be reduced by the knock-off amount entered.

Partial Knock-Off

1. You can enter the knock-off amount into Pay column (auto tick).

2. Unapplied Amt will be reduced by the knock-off amount entered.

Random Knock-Off

1. You can click on the Pay column. It will auto tick on the outstanding documents.

2. Unapplied Amt will be reduced according to the outstanding balance.

Note:
Refund unapplied amount shows the customer contra amount not allocated/knock-off against any outstanding invoices and debit note.

Customer Contra - Attachment

• It is very useful to attach any supporting documents.
• In future, you able to retrieve and refer the attachment file easily.

File:Customer-Customer Contra-07.jpg

1. You have to point to the attachment section.

2. Click on ( + ) button to insert the filename path.

3. See the sample screenshot below.

File:Customer-Customer Contra-07b.jpg

Customer Contra - Note

1. Click on the Note section (on the LEFT side bar).
2. RIGHT click it, you will see the Rich Text Editor pop-up.

3. You can start key-in the note. See the example screenshot below.
4. Click on X button to save and exit the Rich Text Editor.

5. You will get prompted the Save changes? message. Click YES to save it.

Customer Contra - Description

• To show the customer contra description in the Customer Statement, eg. Contra IV-00005 .
  

• Sample of customer statement screenshot below.

GL Ledger - Contra Account

Menu: GL | Print Ledger Report...

1. Select the date range.

2. Select the account code, eg. 450-000 CONTRA ACCOUNT.

3. Tick on General Ledger.

4. Click Apply button.

5. Example of the Contra Account ledger as shown below.

Note:
Contra Account should be zero balance after both customer and supplier contra are same amount.

See Also

• Supplier Contra
• Customer Payment
• Customer Credit Note