1. If assume we paid 50/- as an advance for worth or 100/- goods, but our supplair sent only up to 25/- worth of goods. Know My question is that we want to close the transaction now. How it possible?2. what about VAT like Tax Setups in AP and AR?3. what about the SWEEP command in AP?

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Hardy Shah

  • May 31st, 2006
 

First there shouldn't be assumptions in transactions. If you received 25 of worth in exchange of 50 advance you can close it for a temp. The transaction entry would be...

  Supplier A/c Debit                 25

Received Goods A/c Debit         25

Cash paid A/c         Credit         50

I hope it works/

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parimala

  • Jul 27th, 2006
 

25 paid in excess can be kept as advance made to the particular supplier which can be adjusted against next purchases.

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arshad

  • Aug 15th, 2007
 

Rest if this amount  ie 50/- paid -(25/- good received) should be kept as advance  for next year 

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