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Why is 100% discount on an Cash Sales has wrong Tax GL impact?
Hello Gurus,
I am facing a very odd scenario and I would appreciate any insights on what the postings really mean or what i might be doing wrong.
1) I have created a tax group since i need to apply two different tax codes on one invoice.(16% and 2%).
2) i have created an invoice worth 300 gross. Meaning the Net amount is 254.24. This has been applied two VAT codes, i.e, 16% and 2%. See the screenshot below.
The GL Impact is as below:
3) I have gone ahead and applied a 100% discount on the invoice.
The GL impact afterwards is as follows:
Why do i still have an entry on the VAT accounts? The assumption here is once i apply 100% discount, the only entry should be the cost of sale and inventory.
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