Tax Value Do not hit the GL Table.

erarunarya

Hi,
When i am posting any purchase Invoice with tax, the value of tax amount is reflecting in the tax entry table but it does not hit the GL table, ie. the tax account in chart of account did not got any entry and the whole amount goes to the Purchase expenses account. I have tagged tax account in all the finance setups. But still it has problem.

In the same case when i am posting the sale invoice then the entry hit both the tax account in COA and tax entry table. Then why it doesn't work in case of purchase.

Thanks in advance.

parvesh191981

Dear User,
Check All Sales Tax Setup. GO TO

In FM--> SETUP-->Sales Tax--> Tax Details Form

Creditable Goods = True.

Why True ?

Some time we take Tax as part of our Purchase Expense. That time Creditable Good =False
if we show it in Diff. A/c or this is not part our Purchase Expense, That time is True.
Most of local tax (Vat) this is true.


Thanks,
Parvesh Kumar
Sr. Techno Functional Consultant.

erarunarya

Thanks. Its working properly now. It means to extract tax value in chart of account we have to define that it is on a creditable good.

ssingla

erarunarya wrote:

Thanks. Its working properly now. It means to extract tax value in chart of account we have to define that it is on a creditable good.

No. If VAT credit is avilable for the item then you will mark the field true else the purchase account should get debited.