Accounting Entries generation for invoices matched with POs with credit lines
This is with regard to the accounting entries relevant to the feature introduced by 23A "MATCHING OF INVOICES WITH PURCHASE ORDER LINES WITH VENDOR CREDITS".
I have tested the below scenario;
The order is placed for an equipment worth LKR 23000 with a trade-in equipment worth LKR 10000 which will reduce the po value to 13000 LKR.
23000 LKR Natural Account - Maintenance stock account
10000 LKR Natural Account - Expense account
Maintenance Stock Ac Dr 23000
Accrual Ac Cr 23000
There is no entry to reflect the credit line.
At AP invoice,
Accrual Ac Dr 23000
Expense Ac Cr 10000
Liability Ac Cr 10000