Purchasing for Stock Items - Three-Way Voucher Match

When you purchase for stock, you must use three-way voucher matching. When you enter the purchase order receipt, the system records the tax in two general ledger accounts: Purchase Tax Accrual and Received Not Vouchered Tax. When the system creates the voucher, it offsets the Received Not Vouchered Tax account and records the tax in the Purchase Tax Accrual asset account only for tracking purposes. When you post the voucher, the system records the tax in the Use Tax Payable account. When you pay the tax authority, you enter a voucher that offsets the Use Tax Payable account.

Example: Purchasing for Stock Items - Three-Way Voucher Match

Program	AAI*	Table	Accounts & Fields Updated	F0911 DR	F0911 CR
Enter Receipts by PO (P4312) Creates a journal entry	DM - 4310 DM - 4350 DM - 4320 DM - 4355	F0911	Inventory Asset Purchase Tax Accrual (asset) Received Not Vouchered Received Not Vouchered Tax	1,000 100	. . . 1,000 100
Voucher Match (P4314) Creates a voucher	. . . DM - 4320 DM - 4355	F0411 . F0911	Taxable (1,000) Tax (100) Gross (1,000) Received Not Vouchered Received Not Vouchered Tax	. . . 1,000 100	.
Post General Ledger (R09801) Posts the voucher to the general ledger	FIN - PT FIN - PC	F0911	Use Tax Payable AP Trade	.	100 1,000

* DM - AAI = Distribution/Manufacturing AAI (F4950); FIN - AAI = Financial AAI (F0012)