Changing VAT Structure in a Posted Sales Invoice

srikanth82

Hi

I posted a Sales Invoice for which I have created different VAT structure values ( say 12.5% and 4%). I chose incorrectly 12.5% where I should have chosen 4% and posted the invoice. How to make corrective entries to change the VAT from 12.5% to 4% for this posted sales invoice?

matttrax

You should do a credit memo to zero out that part of the invoice.

Then do a new invoice for the correct amount.

You can also do this through a journal if you wanted to, but I've always preferred documents so that you have something to refer to after the posting.

srikanth82

Thanks for your solution. Could you explain me in detail the Journal method.Thanks.

matttrax

Just do a general journal. One line of document type Credit Memo and one line for Invoice. Pick the customer on both lines and fill in the correct amounts. You can find more information in the Help menu for how to enter a General Journal if you're unfamiliar with the process.