To track sales and purchases made with the same contact

1. Set up a separate customer card (To add a customer card) and vendor card (To add a vendor card) for the contact.



2. Record a sale as you would for any customer's sales transaction (Entering sales) and a purchase as you would for any vendor's sales transaction (Entering purchases), being sure to use the same account for both transaction types.



3. Create a credit invoice in the amount of the sale. (To create a customer credit)



4. Use the Returns & Credits view of the Sales Register to apply a credit invoice to the open receivables balance, reducing the contact's balance. [To apply a customer credit (Sales Register)]



5. Create a debit purchase transaction in the amount of the sale. (To create a vendor debit)



6. Use the Apply to Purchase view of the Settle Returns & Debits window to apply a debit purchase to the open purchase. [To create a vendor debit and To apply a vendor debit (Purchases Register)]