Purchasing for Nonstock Items - Two-Way Voucher Match
When you use two-way voucher matching, the system does not use the Received Not Vouchered accounts because you do not enter purchase order receipts; you enter the purchase order and create the voucher. When the system creates the voucher, it includes the VAT tax in the gross amount of the voucher, but not in the expense distribution. When you post the voucher, the system records the tax in the VAT Recoverable tax account. Rather than pay a tax authority, you pay the supplier for the amount of the goods plus tax and recover the tax amount from the tax authority later.
Example: Purchasing for Nonstock Items - Two-Way Voucher Match
Program |
AAI* |
Table |
Accounts & Fields Updated |
F0911 DR |
F0911 CR |
---|---|---|---|---|---|
Voucher Match (P4314) Creates a voucher |
. |
F0411 . F0911 |
Taxable (1,000) Tax (100) Gross (1,100) Expense Account from PO line |
. . . 1,000 |
. |
Post General Ledger (R09801) Posts the voucher to the general ledger |
FIN - PTxxxx FIN - PC |
F0911 |
VAT Recoverable Tax AP Trade |
100 |
. 1,100 |
* DM - AAI = Distribution/Manufacturing AAI (F4950); FIN - AAI = Financial AAI (F0012)