Goods Returns 

Use

The Create Acquisition Tax Accruals program automatically takes into account goods returns. The following applies not only to goods returns but to goods receipt reversals of all kinds.

Features

Goods Returned in Same Period

If you return goods in the same period that you receive them, the program accrues acquisition tax on the value of the goods remaining in your possession.

On 4 September, a warehouseman receives goods worth EUR 10,000. On 12 September, he returns some of the goods to the vendor, because they are defective. The value of the returned goods is EUR 1,000.

Assume that by 15th October, the vendor has not sent you an invoice, and that the acquisition tax rate is 22%. When you run the Create Acquisition Tax Accruals program for September, it creates an acquisition tax accrual for the remaining EUR 9,000-worth of goods as follows:

Goods Returned in Later Periods

If you return goods the period after you received them, the program generates an accounting document to credit the input tax account.

To continue the above example, in October the warehouseman returns another EUR 2,000-worth of the goods originally delivered in September.

Assume that by 15 November the vendor has still not sent you an invoice. When you run the program for October, it generates an accounting document to credit the input acquisition tax as follows: