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.