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Customer/Vendor Consolidations in Microsoft Dynamics GP

By Deb Schaffer | February 7, 2018

Customer/vendor consolidations in Microsoft Dynamics GP allow you to set up a relationship between a company that is a vendor as well as a customer. If you’re purchasing and selling items to the same company, you’ll save time and resources by setting up customer/vendor consolidations. This functionality consolidates the balance you owe and the balance they owe you, meaning no more sending and receiving redundant checks.

To set up this features go to Tools > Setup > Company > Customer/Vendor Setup

Once you enter this window, you will define the defaults that will happen with each transaction. Here you’ll need to set the default suspense account, description and the options of setting up specific prefixes for descriptions. Your description will always start with ‘BALTRANSFER’ so you know it’s a balance coming from a customer or vendor. You can also mark to auto-create customers/vendors so any time you create a customer, it will automatically create a vendor with the same ID and name.

From this window, you can view who you have set up as relationships on the sales and receivables side.

Once you have the relationship set up, go to Customer/Vendor transactions. That’s where you create the transactions that go between sales and payables. From there you choose the customer and vendor, date to transfer.

Customer Vendor Consolidations

Credit and debit memos will be automatically created once you post the transaction. You can preview the transaction prior to posting.

Once you have this functionality set up you’ll no longer have to worry about manually processing or sending out unnecessary checks. For more help on this topic, contact Stoneridge Software.

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