Making Transfer Postings of Down Payments and Posting Tax
When you carry out a transfer posting of a down payment after posting the closing invoice, the system corrects the tax automatically. When you post a down payment made or received, the system posts a tax receivable. When you carry out a transfer posting of the down payment, the system cancels this posting.
Accounts Receivable:
You receive a down payment for 11,400 USD. You send your customer the closing invoice shortly before you prepare your balance sheet. The payment program can no longer make the final payment before the balance sheet is prepared, since the next payment run is due after the date you prepare the balance sheet. You therefore make a transfer posting of the down payment manually. The system then posts the output tax automatically.
The example illustrates the following:
If you make the transfer posting for the down payment manually, the sales/purchase tax is corrected accordingly. The following describes transfer postings of down payments as well as the preparations necessary for the payment program. Further information on the payment program is contained in this documentation.
Accounts Payable
You make a down payment of 11,400 USD. You receive the closing invoice shortly before you prepare your balance sheet. The payment program can no longer make the final payment before the balance sheet is prepared, since the next payment run is due after the date you prepare the balance sheet. Therefore, you clear the down payment with the closing invoice manually. The system then posts the input tax automatically.
The example illustrates the following:
The following describes transfer postings of down payments as well as the preparations necessary for the payment program.
Further information on the payment program is contained in this documentation.