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Difference in Dr and Cr side in VAT GL accounts 

User Question:

The debit turnover is AED 12439.45,but the vat reclaim credit is AED 12197.03, Leaving AED 242.42 unreclaimed.

Which transaction caused this difference?

Problem / Symptom

The discrepancy in the amounts in the debit and credit columns.

Conditions

  • The Invoice received is posted.

  • The payment was processed using a Cheque Issued and Bank Payment.

  • The payment has been posted.

  • The Invoice received remains outstanding after the payment is posted.

Root Cause

Employee expense reports are present, but not all items have a tax invoice received, so Cr column is empty:

Diagnostics

  1. Open the Bank Payment related to the supplier payment.

  2. Identify the corresponding Cheque Issued.

  3. Open the Cheque Issued.

  4. Go to the Payment Details tab.

  5. Check whether the Advance option is selected.

  6. Check whether the corresponding Invoice received is specified in the Document field.

  7. If the Advance option is selected and the Document field is not filled in, the payment has been processed as an advance rather than allocated to the specific Invoice received.

Resolution

  1. Unpost the Bank Payment.

  2. Unpost the corresponding Cheque Issued.

  3. Clear the Advance option in the Cheque Issued.

  4. Specify the corresponding Invoice received in the Document field.

  5. Repost the Cheque Issued.

  6. Repost the Bank Payment.

  7. Check the supplier balance. The supplier invoice should now be displayed as paid.

Related Materials

6.4.2.1.2. Creating a Cheque Issued. The Payment Details tab

Product / Configuration

FirstBit ERP/FirstBit Accounting/FirstBit Contracting

Functional Area/Firstbit Software Section

Money



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Alternative User Questions / Keywords

#paid_supplier_invoice_is_still_outstanding #supplier_invoice_remains_outstanding_after_payment #invoice_is_paid_but_still_shown_in_balance #paid_invoice_is_still_showing_in_supplier_balance #payment_does_not_settle_supplier_invoice #supplier_payment_does_not_close_invoice #bank_payment_does_not_settle_invoice #cheque_issued_as_advance_payment




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