I have query that is it possible to make entries in accounting softwares for multiple types of transsactions with a single party with a single party account?
For better understanding go through the following example.
Let Mr. A is a party, with him i purchased some inventories, sold some fixed assets, borrowed sone fund as loan, he got some commission form me, he is also an agent of me, he is also a one of the client of me for some purpose, he had also some shares of mine, etc.
In this case can i make all the above entries in tally/sap/erp by making a account Mr. A, if yes then, what should be the procedure of creating party account to effect the all the above mentioned transactions?
Immediate help is required.
Thanks In Advance