VAT TAX LEAVES A BALANCE ON AP ACCRUAL ACCOUNT
Posted: Tue Jul 22, 2008 11:41 pm
Some RECEIPT eaves balance on AP Acrual
when invoice matched
so it raise inbalance in journal which import from purchasing and payable
On receipt:
DB Receiving $1050
CR A/P Acrual Account Po price + Non Recoverable Tax $1050
On Invoicing:
DB A/P Accrual Account PO Price $1000
DB (TAX) $50
CR AP Liability $1050
is there any wrong on my setting , or how to handle this matter
when invoice matched
so it raise inbalance in journal which import from purchasing and payable
On receipt:
DB Receiving $1050
CR A/P Acrual Account Po price + Non Recoverable Tax $1050
On Invoicing:
DB A/P Accrual Account PO Price $1000
DB (TAX) $50
CR AP Liability $1050
is there any wrong on my setting , or how to handle this matter