Problem: How
...
to transfer the amounts of Input VAT to expenses?
Solution:
...
Use Service Tools as shown.
* Please use the document cautiously after Hotline recommendations only.
Input VAT is shown as Closing Balance instead of to be written off:
1. There is no direct way to do this entry, therefore, we will please use this manual entry document Transaction general ledger
( Please use the document with caution, should be used only when advised by Hotline).
(General Ledger):
Accounting > Service Tools > Transactions (General Ledger)
Please specify the Debit and Credit accounts, Department, Expense item, seller, Purchase document, Currency and Amount.
See also 7.5.6. Transactions (General Ledger)Go to Administration – Register Correction.
Fill out the document as shown below.
You can take the data from the register of the Invoice Received document.Generate a report to check your actions.Thanks for being a First bit 2. This Transaction must be completed with a Register Correction.
To create a Register Correction, go to Administration > Administration Documents > Register Correction:
Create Register Correction document, make Register Correction Settings and add Input VAT Accumulation Register as shown:
Add a record and create the same record in this register as Invoice Received did, but with opposite Record Type:
Put Expense instead of Receipt:
3. Generate a Trial Balance to check that Input VAT is written off as an expense:
Thank you for being a FirstBIT Customer!