If you want to settle open vendor transactions, you can use ‘Settle open transactions’ form.
In the following example, we have 2 open transactions against a vendor;
- 1st, credit transaction with an amount of 150 against an open purchase invoice to be paid
- 2nd, debit transaction with an amount of 150 against an advance payment
Navigate to Accounts payable -> Common -> All vendors -> Selection of vendor id -> Menu ‘Invoice’ -> Settle -> Settle open transactions
Check checkbox field ‘Mark’ manually
Check menu ‘Update’
Once ‘Update’ menu is clicked, system settles both the transactions against each other, removes the transactions from ‘Settle open transactions’ form and moves settled transactions to ‘Closed transactions editing’ form.