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Admin at
Hi,
Reason code may not be the right option in my opinion, as it would be cumbersome
to do it every time a customer makes a payment less VAT. Ideal would be to route
it through condition type as you know the deduction on account of VAT in
advance.
Thanks
Srividya
| | | ---------------Original Message---------------
From: Nickdobson
Sent: Wednesday, June 15, 2011 12:29 PM
Subject: AR payment of customer invoices less VAT and Discount
We invoice a customer for £100,000 + tax £19600. = 119600
We get paid by a finance company £117883.50
This is £119600
Less a Trade Discount of 1.2 % £1435.20
and VAT 19.6 % £281.30
There may be 50 + customers being paid with a single payment from the Finance Company.
I want to be able to clear the invoices and post the discount and VAT automatically when we get paid.
I can use a Worklist to bring up all the customer open items
I can use Payment terms to bring up Cash Discount (Its really Trade discount, but I think Cash discount will be OK)
How can I post the VAT? Maybe with a Reason Code?
Anyone got any bright ideas out there?
Thanks
Nick |
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