One of the awesome design of Odoo is that it allows the customer and vendor to be maintained as the same partner (contact), which present the following advantages:
a) A simplified and holistic view of your partner, that give you the overall insight of partner aging, statement of account and transaction history.
b) Avoid confusing and wrong use of the partner with the same name.
In many customer project environment, due to the legacy system issue, the same contact, which is your customer and vendor, are maintained as different contacts (partners). Merging is also not possible with many open invoices and vendor bills.
However, there is a need to do the Contra payment (AP/AR Netting) for this very same customer cum vendor. Contra payment is to use the vendor bill of a supplier to pay for the invoice of the customer, usually belonging to the same company.
See my other blog below for Account Netting (Contra) with the same partner.
The following is the example of how the Account Netting (Contra) can be done.
User must select the Customer invoices and Vendor bills to contra.
Journal Entry for the Account Netting.
User will be able to create Vendor Payment or Customer payment, depending on the Amount due. Alternatively, user can choose to merely post the journal entry and not register any payment.
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