Odoo Account Payment Netting (Contra)
Updated: Aug 17, 2021
In Malaysia, it is not uncommon to use Contra (AR or AP Netting) to settle the payment, for the following reason:
1) When your customer is also your vendor, and only the remaining balance after contra will be paid.
2) Trading between sisters companies, subsidiary-parent companies and etc.
Note 1: It may not be working if customer and vendor are 2 different contacts (Account).
Note 2: Contra may not legal in some countries.
The following is how the Account Payment Netting (Contra) works:
1) Go to the Accounting -> Invoices for Netting
2) Filter by the partner (Customer or Vendor), and select all the invoices and vendor bills that are to be netting (contra).
3) Payment Amount will be the remaining balance after contra. There are 2 options:
a) Register payment (Tick “Register Payment”) – Create a new payment. Click "Validate & View payment".
b) Do not register payment (Untick “Register Payment”) – In case you do not yet want to create payment, and thus will have a partial payment for the last remaining amount. First In First Out, ie, Oldest Vendor bill or Invoice will be paid first, the remaining will be the partial payment.
Click "Like" at the bottom of this blog, to motivate us to continue sharing more Odoo tips.