How to adjust the Discount amount on invoice with receipt in AR?
Invoice(100/-) with tax(19/-) total invoice amount- 119/-
DR 100.000.12010.000.000 Receivable 119
CR 100.000.40010.000.000 Revenue 100
CR 100.000.24029.000.000 Tax 19
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119 119
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Receipt - 110/-
DR 100.000.10130.000.000 Cash 110
CR 100.000.12010.000.000 Receivable 110
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110 110
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Adjustment - 9/-
DR 100.000.40010.000.000 Adjustment(Rev) 7.56
DR 100.000.76304.000.000 Adjustment Tax 1.44
CR 100.000.12010.000.000 Receivable 9.00
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9.00 9.00
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Now Requirement is
Invoice amount is 100/- and Tax is 19/- and Receipt amount is 110/-.
Reaming 9/- has to adjust with same accounts (i.e. Receivable , Revenue and Tax Accounts).
but this case tax amount is going to Adjustment Account, this should not go to adjustment account, this will to actual tax account which have given in Invoice.
How would achieve this? Please reply on this.
Thanks in advance.
Nagesh
How to Adjust the Discount Amount in AR?
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