Child pages
  • Dealing with a supplier who is also a customer




How satisfied are you with our online help?*

Just these help pages, not phone support or the product itself

Very dissatisfied
Very satisfied

Why did you give this rating?

Anything else you want to tell us about the help?

Contra deals are a convenient means by which two businesses use their goods and services supplied to each other as payment for those received.

For example, let's say you do some work for a customer and charge $100 and they in turn charge you $30 for goods. This leaves a balance of $70 for the customer to pay.

Here's how you handle it in MYOB Essentials.


To deal with a supplier who is also a customer
  1. Set up the contact as a Customer & Supplier. Here's an example:
    New contact setup with customer and supplier highlighted in contact is field
  2. Create a new account with the Account Type of Banking. Here's our example:
    Example contra clearing account 
  3. Create an invoice for the customer. Here's our example:
    Sample 100 dollar invoice
  4. Create the bill from the supplier. Here's our example:
    Sample bill for 30 dollars 
  5. Record the customer's payment. In the Into account field, select the contra clearing account created at step 2. Here's our example:
    100 dollar invoice payment into contra clearing account 
  6. Record the supplier payment. In the From account field, select the contra clearing account created at step 2. Here's our example:
    30 dollar bill payment from contra clearing account
  7. Transfer the balance of the contra clearing account into the account the customer actually paid the funds into. Here's our example:
    70 dollar transfer from contra clearing account into cheque account 
If you have linked or imported your bank accounts, you can match the deposit that appears against the Transfer transaction recorded above if MYOB Essentials Accounting hasn't already auto matched it for you.