How to add Invoice sales tax
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How to add Invoice sales tax
 
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Hello all,
I have done it in my purchase invoice but not able to see it in my overall price while my invoice shipping and handling price added successfully. Thanks in advance. Thanks & Regards Santosh Malviya |
smime.p7s (4K)
Re: How to add Invoice sales tax
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Sorry for inconvenience, my question should have been when I add Invoice
sales tax of unit price say $10 then I am unable to see its transaction entry while invoice shipping and handling entries are there. Where this entry is done. Am I missing something?. Thanks in advance. Thanks & Regards Santosh Malviya Santosh Malviya wrote: > Hello all, > I have done it in my purchase invoice but not able to see it in my > overall price while my invoice shipping and handling price added > successfully. > Thanks in advance. > > Thanks & Regards > Santosh Malviya > |
Re: How to add Invoice sales tax
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Re: How to add Invoice sales tax
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Hello David,
I have done following : (1)At first I created a purchase order, approved the order, generated a shipment, issued items, received items. Then in Accounting I edited purchase invoice by adding new items like adding invoice sales tax and invoice shipping and handling. Here I added invoice sales tax(of unit price $10) and two invoice shipping and handling(one with the Gl Account Id and other without ) with override Gl Account Id = 516100 PURCHASE ORDER ADJUSTMENTS and unit price of both and then I set "status to ready". This generated 4 transaction entries which are follows : Credit; in account 210000 - "ACCOUNTS PAYABLE"; amount: 288$ (After adding all taxes and shipping charges) Debit; in account 214000 - "UNINVOICED ITEM RECEIPTS"; amount: 270$ (Actual price of 10 items of WG-1111) Debit; in account 510000 - "FREIGHT IN"; amount: 5$ (Shipping invoice without Gl account Id) Debit; in account 516100 - "PURCHASE ORDER ADJUSTMENTS"; amount: 3$ (Shipping invoice with Gl account Id) (2) I was expecting here transaction entry of invoice sales tax while its tax was added into total price(ACCOUNTS PAYABLE, amount 288$). (3) Only four entries were there as a result of this invoice. Thanks and Regards Santosh Malviya David E Jones wrote: > > Santosh, > > I don't understand this question, and I'm not sure if others do > either. For example, what do you mean by "when I add Invoice sales > tax"? Where and how do you add it? Could you please rewrite this > question in terms of: > > 1. what you did > 2. what you expected to happen > 3. what actually happened > > -David > > > On Feb 19, 2009, at 3:07 AM, Santosh Malviya wrote: > >> Sorry for inconvenience, my question should have been when I add >> Invoice sales tax of unit price say $10 then I am unable to see its >> transaction entry while invoice shipping and handling entries are >> there. Where this entry is done. Am I missing something?. >> Thanks in advance. >> >> Thanks & Regards >> Santosh Malviya >> >> >> Santosh Malviya wrote: >>> Hello all, >>> I have done it in my purchase invoice but not able to see it in my >>> overall price while my invoice shipping and handling price added >>> successfully. >>> Thanks in advance. >>> >>> Thanks & Regards >>> Santosh Malviya >>> >> > > |
Re: How to add Invoice sales tax
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Re: How to add Invoice sales tax
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Re: How to add Invoice sales tax
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Hello Sumit,
You are right, debit entry of sales tax is missing so how can I create this sales tax's entry into DB. Thanks and Regards Santosh Malviya Sumit Pandit wrote: > Hello Santosh, > > > Here as per information provided you you, it looking like that 1 entry is missing in entity. It is a debit entry for sale tax for $10. > > Also entry for #2 is correct, here we can understand it in very simple accounting concept. that amount $288 is credited in books against price of 10 items($270) + shipping changes($5) + other adjustments($3) + sale tax(%10). > > In very simple term ACCOUNT PAYABLE is refer to all parties to whom a business entity is require to pay against of product or service. > > So total amount is credited in system against of all debit entries to balance the book in double entry system. > > > > Thanks And Regards > Sumit Pandit > > > > ----- "Santosh Malviya" <[hidden email]> wrote: > > | Hello David, > | I have done following : > | (1)At first I created a purchase order, approved the order, generated > | a > | shipment, issued items, received items. Then in Accounting I edited > | purchase invoice by adding new items like adding invoice sales tax and > | > | invoice shipping and handling. Here I added invoice sales tax(of unit > | > | price $10) and two invoice shipping and handling(one with the Gl > | Account > | Id and other without ) with override Gl Account Id = 516100 PURCHASE > | ORDER ADJUSTMENTS and unit price of both and then I set "status to > | ready". This generated 4 transaction entries which are follows : > | > | Credit; in account 210000 - "ACCOUNTS PAYABLE"; amount: 288$ > | > | (After adding all taxes and shipping charges) > | Debit; in account 214000 - "UNINVOICED ITEM RECEIPTS"; > | amount: > | 270$ (Actual price of 10 items of WG-1111) > | Debit; in account 510000 - "FREIGHT IN"; amount: 5$ (Shipping > | > | invoice without Gl account Id) > | Debit; in account 516100 - "PURCHASE ORDER ADJUSTMENTS"; > | amount: 3$ (Shipping invoice with Gl account Id) > | > | (2) I was expecting here transaction entry of invoice sales tax while > | > | its tax was added into total price(ACCOUNTS PAYABLE, amount 288$). > | (3) Only four entries were there as a result of this invoice. > | > | Thanks and Regards > | Santosh Malviya > | > | David E Jones wrote: > | > > | > Santosh, > | > > | > I don't understand this question, and I'm not sure if others do > | > either. For example, what do you mean by "when I add Invoice sales > | > tax"? Where and how do you add it? Could you please rewrite this > | > question in terms of: > | > > | > 1. what you did > | > 2. what you expected to happen > | > 3. what actually happened > | > > | > -David > | > > | > > | > On Feb 19, 2009, at 3:07 AM, Santosh Malviya wrote: > | > > | >> Sorry for inconvenience, my question should have been when I add > | >> Invoice sales tax of unit price say $10 then I am unable to see its > | > | >> transaction entry while invoice shipping and handling entries are > | >> there. Where this entry is done. Am I missing something?. > | >> Thanks in advance. > | >> > | >> Thanks & Regards > | >> Santosh Malviya > | >> > | >> > | >> Santosh Malviya wrote: > | >>> Hello all, > | >>> I have done it in my purchase invoice but not able to see it in my > | > | >>> overall price while my invoice shipping and handling price added > | >>> successfully. > | >>> Thanks in advance. > | >>> > | >>> Thanks & Regards > | >>> Santosh Malviya > | >>> > | >> > | > > | > > > |
Re: How to add Invoice sales tax
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Re: How to add Invoice sales tax
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Thank you Sumit for your reply but I think if I choose appropriate
override Gl account Id then it can be solved. Thanks and Regards Santosh Malviya Sumit Pandit wrote: > Hello Santosh, > > If any financial operation is performed then the corresponding entry > is done in background by system. If for sale tax it is not happening > then you need to see why is it not? > AcctgTransServices.xml can help you. > > > Thanks and Regards > Sumit Pandit > > > > On Feb 20, 2009, at 3:39 PM, Santosh Malviya wrote: > >> Hello Sumit, >> You are right, debit entry of sales tax is missing so how can I >> create this sales tax's entry into DB. >> >> Thanks and Regards >> Santosh Malviya >> >> Sumit Pandit wrote: >>> Hello Santosh, >>> >>> >>> Here as per information provided you you, it looking like that 1 >>> entry is missing in entity. It is a debit entry for sale tax for $10. >>> >>> Also entry for #2 is correct, here we can understand it in very >>> simple accounting concept. that amount $288 is credited in books >>> against price of 10 items($270) + shipping changes($5) + other >>> adjustments($3) + sale tax(%10). >>> >>> In very simple term ACCOUNT PAYABLE is refer to all parties to whom >>> a business entity is require to pay against of product or service. >>> >>> So total amount is credited in system against of all debit entries >>> to balance the book in double entry system. >>> >>> >>> Thanks And Regards >>> Sumit Pandit >>> >>> >>> >>> ----- "Santosh Malviya" <[hidden email]> wrote: >>> >>> | Hello David, >>> | I have done following : >>> | (1)At first I created a purchase order, approved the order, generated >>> | a | shipment, issued items, received items. Then in Accounting I >>> edited | purchase invoice by adding new items like adding invoice >>> sales tax and >>> | | invoice shipping and handling. Here I added invoice sales tax(of >>> unit >>> | | price $10) and two invoice shipping and handling(one with the Gl >>> | Account | Id and other without ) with override Gl Account Id = >>> 516100 PURCHASE | ORDER ADJUSTMENTS and unit price of both and then >>> I set "status to | ready". This generated 4 transaction entries >>> which are follows : | | Credit; in account 210000 - >>> "ACCOUNTS PAYABLE"; amount: 288$ >>> | | (After adding all taxes and shipping charges) | >>> Debit; in account 214000 - "UNINVOICED ITEM RECEIPTS"; >>> | amount: | 270$ (Actual price of 10 items of WG-1111) >>> | Debit; in account 510000 - "FREIGHT IN"; amount: 5$ >>> (Shipping >>> | | invoice without Gl account Id) >>> | Debit; in account 516100 - "PURCHASE ORDER ADJUSTMENTS"; >>> | amount: 3$ (Shipping invoice with Gl account Id) >>> | | (2) I was expecting here transaction entry of invoice sales tax >>> while >>> | | its tax was added into total price(ACCOUNTS PAYABLE, amount 288$). >>> | (3) Only four entries were there as a result of this invoice. >>> | | Thanks and Regards >>> | Santosh Malviya >>> | | David E Jones wrote: >>> | > >>> | > Santosh, >>> | > >>> | > I don't understand this question, and I'm not sure if others do >>> | > either. For example, what do you mean by "when I add Invoice >>> sales | > tax"? Where and how do you add it? Could you please >>> rewrite this | > question in terms of: >>> | > >>> | > 1. what you did >>> | > 2. what you expected to happen >>> | > 3. what actually happened >>> | > >>> | > -David >>> | > >>> | > >>> | > On Feb 19, 2009, at 3:07 AM, Santosh Malviya wrote: >>> | > >>> | >> Sorry for inconvenience, my question should have been when I >>> add | >> Invoice sales tax of unit price say $10 then I am unable to >>> see its >>> | | >> transaction entry while invoice shipping and handling entries >>> are | >> there. Where this entry is done. Am I missing something?. >>> | >> Thanks in advance. >>> | >> >>> | >> Thanks & Regards >>> | >> Santosh Malviya >>> | >> >>> | >> >>> | >> Santosh Malviya wrote: >>> | >>> Hello all, >>> | >>> I have done it in my purchase invoice but not able to see it >>> in my >>> | | >>> overall price while my invoice shipping and handling price >>> added | >>> successfully. >>> | >>> Thanks in advance. >>> | >>> >>> | >>> Thanks & Regards >>> | >>> Santosh Malviya >>> | >>> >>> | >> >>> | > >>> | > >>> >>> >> > > Thanks and Regards Santosh Malviya Enterprise Software Developer Hotwax Media Inc. Indore(M.P.) India Mobile : +91 9977650914 |
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