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Hello,
The GST is paid to the government, this is when the clearing will happen.
Regards
waza
| | | ---------------Original Message---------------
From: Sundarji007
Sent: Monday, February 14, 2011 2:45 AM
Subject: Retention Release with GST
Hello Experts,
One of my clients is into construction business in Canada and he has a issue whereby the balances on account of GST are manually cleared. The billing happens through PS and retention concept is also configured in the payment terms.
Following is the sceneario:
Original 623,810.00
Retention (10%)62,381.00 62,381.00 HB
Balance 561,429.00
GST (5%) 28,071.45 3,119.05 GST
invoiced 589,500.45 65,500.05 invoiced retention
As per the configuration available, clearing is done automatically for 65,500, However for the balance ( 3119.05) on account GST, clearing has to be done manually.
Is there any way out where by GST balance also gets automatically cleared when the invoice gets cleared?
Regards,
Raman |
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