Thank you Joe, I understand it now.
1 07/16/2013 10:53:31 am
Re: Wrong Discount Amount in Direct Invoice (11 replies, posted in Accounts Receivable)
2 07/16/2013 02:13:51 am
Re: Wrong Discount Amount in Direct Invoice (11 replies, posted in Accounts Receivable)
Hi Joe,
In my first post the GL posting for the discount should be 2.40 since 12% of 120.00 is 2.40.
This is how my FA is configured. Sales type 'Retail' is tax inclusive. Customer 'Walk In' has a tax group of 12%, Item sold has an item tax type of VAT which is also 12%.
The scenario.
I selected the customer 'Walk In' in direct invoice and selected the item 'Coke' (test item) with a quantity of 10 and a sell price of 12.00 each. I placed a line item discount of 2%. It gave me a Total Invoice of 117.60, this is correct here because 2% of 120 is 2.40, so 120.00 - 2.40 = 117.60.
The problem:
When I view the GL posting it is giving me a different figures on both debit and credit side of the GL transaction posting, they only totaled to 119.74 and not 120.00 (The invoice amount).
Please see attached screenshots to have a better view of what I mean.
Screenshot of the Invoice:
The Invoice
Screenshot of the GL Posting:
GL Posting
I hope I made my inquiry clear. I am not sure if there is an error in the program, I just need to know why it is giving me a total of 119.74 in the General Ledger view of the transaction instead of 120.00 which is the total invoice amount.
This is a fresh install of FA and no script modification has been done.
Thank you.
3 07/15/2013 01:25:29 pm
Re: Wrong Discount Amount in Direct Invoice (11 replies, posted in Accounts Receivable)
Hi Joe,
Thanks for getting back to me.
The customer has a tax group included which is 12%, the item type has an item type tax of 12% also. Can you please tell me how to configure it properly. We do not charge tax to our customer but only to the items.
Thanks.
4 07/15/2013 08:12:33 am
Re: Wrong Discount Amount in Direct Invoice (11 replies, posted in Accounts Receivable)
Then why it is not giving me a discount amount of 2.40 in 0_gl_trans table instead it is listed there as 2.11.
Can you tell me where is the line of code that computes for the line item discount?
Thanks.
5 07/15/2013 07:19:50 am
Re: Wrong Discount Amount in Direct Invoice (11 replies, posted in Accounts Receivable)
Hi Joe,
Thank you for the reply. In my setting I have tax included in the customer and tax in the item. I placed it this way because if I do not put tax in the customer the tax doesn't work during sales in Direct Invoice even there is a tax defined in the item. In our country we only charge tax on the items and not to the customer so the tax should only be placed in the item. How should I handle this scenario?
Thanks.
6 07/14/2013 04:07:18 pm
Re: Wrong Discount Amount in Direct Invoice (11 replies, posted in Accounts Receivable)
Hi,
Can anyone tell me where is the line of code that does the computation for the line item discount in Direct Invoice?
Thanks.
7 07/14/2013 04:05:29 pm
Topic: Wrong Discount Amount in Direct Invoice (11 replies, posted in Accounts Receivable)
Hi all,
I'm a bit confuse on line item discount in Direct Invoice because it is giving me wrong value in 0_gl_trans for the discount gl account.
I made a Direct Invoice with 10 items having a selling price of 12.00/each so the total is 120.00, then I entered a
discount of 0.02% so now the total is 117.60 which is correct. I proceeded with the transaction and viewed the GL Postings and saw that the discount amount is 2.11, this is not correct because 120.00 * 0.02 is 2.40.
Why am I getting a different value for the discount amount in 0_gl_trans table?
Thanks.
8 06/22/2013 03:52:01 pm
Re: Credit Limit (2 replies, posted in Accounts Receivable)
Hello,
Any help?
9 06/13/2013 05:16:24 pm
Topic: Credit Limit (2 replies, posted in Accounts Receivable)
Hi all,
I am new to frontaccounting and I like it. I have a bit of a question about customer's credit limit. I setup a customer with a credit limit of 1000 but when I do a direct invoice of Installment basis with an amount greater than 1000 the software allows the transaction to be saved. Should it be blocked since the customer exceeds the credit limit defined in his account? Any help would be appreciated.
I saw this link https://frontaccounting.com/punbb/viewtopic.php?id=1558
but looks like it is not working for me. I have the current version of FA ver. 2.3.16
Thanks.