Making Third-Party Payments
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This account (21115 in this case) will always be balanced because VIP IMOS will debit a Vendor on one side of the vendor-to-vendor payment and then credit the other.
Below is an illustrated example of what it will look like in the account analysis.
| Trans No. | Vendor | GL A/C | Debit | Credit |
1 | 0001N | Vendor A | 21000 | 10,000 |
|
|
| Vendor to Vendor | 21115 |
| 10,000 |
|
|
|
|
| |
2 | 0001T | Vendor B | 21000 |
| 10,000 |
|
| Vendor to Vendor | 21115 | 10,000 |
|
Note: Vendor to vendor payment will only work properly if you create one payment for all your ARs and one for all your APs.
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