Prerequisites
Vendor: VEND-1
Vendor Control Account: 202
Inventory System: Moving Average
VAT 22% Account: 225-01
VAT 7% Account: 225-02
Materials
Code |
WH |
Inventory Account |
GR/IR Clearing Account |
Actual Price |
Actual Inventory |
---|---|---|---|---|---|
MAT-1 |
01 |
311 |
301 |
120 |
100 |
MAT-2 |
01 |
311 |
301 |
100 |
50 |
MAT-3 |
03 |
601 |
305 |
200 |
150 |
Correction Invoice - Section WAS
Material |
Qty |
Price |
Net Value |
% VAT |
VAT |
---|---|---|---|---|---|
MAT-1 |
10 |
130 |
1300 |
22 |
286 |
MAT-2 |
20 |
110 |
2200 |
22 |
484 |
MAT-3 |
20 |
220 |
4400 |
7 |
308 |
Correction Invoice - Section SHOULD BE
Material |
Qty |
Price |
Net Value |
% VAT |
VAT |
---|---|---|---|---|---|
MAT-1 |
10 |
140 |
1400 |
22 |
308 |
MAT-2 |
20 |
120 |
2400 |
22 |
528 |
MAT-3 |
20 |
200 |
4000 |
7 |
280 |
Result
The example represents a minus type A/P correction invoice, as section WAS is greater than section SHOULD BE.
The system treats each item separately.
Journal Entries
Account |
Debit |
Credit |
---|---|---|
VEND-1 |
-62 |
|
202 |
-62 |
|
225-01 |
66 |
|
225-02 |
-28 |
|
311 |
300 |
|
601 |
-400 |
Material Changes
The material quantity remains unchanged because there is no quantity change on the document. The inventory prices are modified as follows (new prices):
MAT-1: (120*100+100)/100 = 121
MAT-2: (100*50+200)/50 = 104
MAT-3: (200*150-400)/150 = 197,33
Note
Differences in amounts may occur due to rounding differences resulting from different legislation requirements.