Credit memo appllying on the STD Invoice

[amit.moon]

Hi All,

Iam trying to apply credit memo on the Standard Invoice in Account payable workbench, when iam trying to match by putting Standard Invoice number Credit Memo distribution will become zero.

I need to know the correct Producure.

Regards
Amit

[siva sankar]

Hi,

Please find the correct procedure.

1. Enter the Standard invoice with tax id.

2. Validate the invoice. Now system will generate the 2 invoices automatically.

A) Credit Memo -- Will be generated againest to the vendor.
B) Standard Invoice for Income Tax authorities.
3. Approve & validate the credit memo

4. Complete the accounting for above invoices and proceed to make the payment.

Ex: STD Inv 1000 Rs @10%
Credit memo -100 Rs
==============
900 Rs to Vendor / Supplier.
==============
Standard Inv For Income Tax Authorites 100 Rs

The above 100 Rs needs to be deposited to Income tax every month.

Please let me know, If you have any clarification.

Thanks & Regards,

Siva

[shaikjohnpasha]

Hi Amit,

You can apply the credit memo to an invvoice by making zeero payment also.

Clarify ur query with detailed steps if it is not answered.

Rgrds,