Problem: How to transfer the amounts of Input VAT to expenses?
Solution:
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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 the Hotline).
(General Ledger):
Accounting > Service Tools > Transactions (General Ledger)
Please specify the debit Debit and credit accountCredit accounts, departmentDepartment, expense Expense item, seller, purchase Purchase document, currency Currency and amountAmount.
See also 7.5.6. Transactions (General Ledger)
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You can take the data from the register of the Invoice Received document.
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Generate a report to check your actions.
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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:
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