Adjustment for partially paid Supplier Tax Invoice

Owned by Syeda Nuzhat Tahseen (Unlicensed)
Last updated: 2019-Jan-25 by Ahmed Abdessalam (Deactivated)Version comment
1 min read

Adjustment made by Journal Voucher Entry not reflected in AP Creditor Aging.

As comply to GST Rules,
CN & DN not meant for internal adjustment,
so for accounting purpose we need JV to be capture in the AP Creditor Aging in our book for that Supplier Account.

Can wavelet help to link the JV transaction into Supplier A/c ?

 

Step-by-step guide

Note: In case of Blocked Input Tax - GST amount calculated still should be 2.83, and not 2.89.

  1. If SINV amount is RM 51 (I am assuming inclusive of GST 6% = 2.89 RM)
    1. Manual SINV created for 51, GST to be claimed 2.89 RM.
  2. However, company only pay RM 50 (Inclusive GST 6% = 2.83 RM)
    1. Create PV to pay RM 50 to settle with SINV.
  3. Issue CM of 1 RM to reduce GST 0.06 (Company is not paying 2.89, hence claiming 2.89 is NOT an option. Only can claim RM 2.83 which is paid by the company.)

 

Note: In case of Blocked Input Tax - GST amount calculated still should be 2.83, and not 2.89.

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