Contra Offsets

There may be times when you have a receivable open for a counterparty and you want to apply this balance to the payable side, either to reduce the amount you owe them, or in the case of a credit memo, to refund them.

CieTrade allows you to handle this easily and efficiently.

In order to flip a receivable to a payable, the counterparty must also be set up as a vendor in both cieTrade and your accounting system:

In this case, 27 Recycling has an open AR item of $500.00.

To flip this over to AP as a supplier credit:

Go to Receipts Ledger +.

Select 27 Recycling as the customer and select the AR item to be flipped.

In the payment mode, select Contra Offset and post as normal.

This AR item is now reflected as paid in full in cieTrade.net, and a supplier credit has been created in the accounting system.

In the event of a customer credit in cieTrade:

When this is processed using the contra offset feature, a supplier invoice will be created in the accounting system that can be paid.

If you have additional questions, please contact the Support Team via email to support@cietrade.net.