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jennyDoo
May 24, 2024
Question

Customer that is a vendor when selling and purchasing on the same invoice

  • May 24, 2024
  • 1 reply
  • 0 views

I have a customer that I am invoicing for new parts.

However, I am purchasing some used parts from the customer, that will reduce their overall invoice.

For example, new part that the customer is purchasing is $3,000 and the old part that I am purchasing back from the from the customer is $1,000. Would you generate the invoice with the parts of $3,000 on the first line and then credit $1,000 on the second line, resulting in an invoice of $2,000 to the customer.  Or does this need to be reporting differently to account for the purchase of the old part from the customer?

1 reply

T
Trish_T
May 24, 2024

Hello jennyDoo,

 

Welcome to Community!  QuickBooks Online handles supplier and customer transactions separately, so there isn't a direct way to invoice a customer and apply a supplier credit in one transaction.  I would be happy to provide more information, so you're able to accomplish your QuickBooks goals!

 

To get started, a customer can't have the same name as a supplier.  To add them successfully, you'll need to differentiate the two by adding an identifier to one of the names, such as an (*) at the beginning or end of the last name. Once you've completed that, you can proceed with creating your forms.  Based on the information you've provided, I feel you would benefit more by creating a 'Barter' transaction, to record the exchange of goods and services with your supplier.  Follow this link to learn how.

 

if you're not sure of the barter transaction, I recommend connecting with an accountant. They'll be able to offer you guidance tailored to your business needs.  If you don't have an accountant, you can search for a ProAdvisor in your local area by following this link.

 

Feel free to reach back out, if you have any other questions. We would be glad to help!

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