<font color="blue">Hi All,
1) When creating the AR Invoice, the entry is
Receivables a/c (4101) Dr 1000.00
To Revenue a/c (2101) CR 1000.00.
but wrongly taken Receivables a/c (4101) instead of Revenue a/c (2101)
Receivables a/c (4101) Dr 1000.00
To Revenue a/c <font color="red">(4101)</font id="red"> CR 1000.00
And <font color="green">Receipt has been done against Invoice</font id="green">.
Now Debtor Trial balance and GL Trial balance showing difference amount due to
wrongly taken Receivables a/c (4101) instead of Revenue a/c (2101)
2) Similarly for Credit memo, entry is
Revenue a/c (2101) Dr 500.00
To Receivables (4101) CR 500.00
Wrongly selected Revenue a/c value (2101) instead of Receivables a/c value (4101)
Revenue a/c (2101) Dr 500.00
To Receivables a/c <font color="red">(2101)</font id="red"> CR 500.00
How to do Rectification for these entries?
and How will get match balances of Debtor trial balance and GL trial balance.
Please help me out.
Thanks,
Nagesh.
<font color="blue"></font id="blue"></font id="blue">
How to do AR Rectification Entry?
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- Posts: 35
- Joined: Wed Feb 23, 2011 9:56 am
- Location: Bermuda
Hello,
Once we apply the receipt against the invice we cant do any modificatins.
Eventhough we do some workarounds.
For Issue no -1
1. Unapply the receipt with invoice.
2.Create credit Memo agains the inovoice.
3. Create the inovoice with correct GL code.
Or
Pass rectificatin manual gl entry in GL.
Srinivas
Once we apply the receipt against the invice we cant do any modificatins.
Eventhough we do some workarounds.
For Issue no -1
1. Unapply the receipt with invoice.
2.Create credit Memo agains the inovoice.
3. Create the inovoice with correct GL code.
Or
Pass rectificatin manual gl entry in GL.
Srinivas
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