In BizCentric, Common Party Accounting encompasses handling unconventional transactions such as generating a Sales Invoice against a primary Supplier.

Consider a scenario where a BizCentric user typically generates Purchase Invoices against a Supplier but now wishes to issue a Sales Invoice to the same supplier and offset this invoice against a previous purchase.

This can be accomplished by activating Common Party Accounting. Here are the steps:

1. Navigate to Account Settings and activate Common Party Accounting.
2. Establish a connection between the two parties:
   • If the primary role of the party is Supplier, access the Supplier Master and select Actions -> Link with Customer.
   • If the primary role of the party is Customer, access the Customer Master and select Actions -> Link with Supplier.
3. Generate a Sales Invoice against the Customer designated as the Secondary Party in the previous step.
4. Upon submission of the Sales Invoice, an automatic Journal Entry will be generated, creating an advance balance against the linked Supplier.
5. This advance in the Journal Entry can then be utilized to reconcile against a Purchase Invoice.