You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Invoices generate duplicate entries for self-assessed tax liabilities

edited Nov 27, 2024 8:25AM in Subledger Accounting & Accounting Hub 3 comments

Summary:

invoices generate duplicate entries for self-assessed tax liabilities

Content (please ensure you mask any confidential information):

Some invoices generate duplicate entries for self-assessed tax liabilities (debit and credit for the same account). Although there's no financial impact, the business is concerned about these duplicates appearing in the accounting records.

Example of Duplicate Entries:

Actual:
Self-Assessed Non-Recoverable Tax Dr 100
Self-Assessed Tax Liability Dr 100
Self-Assessed Tax Liability Cr 200

Expected:
Self-Assessed Non-Recoverable Tax Dr 100
Self-Assessed Tax Liability Cr 100

This behavior is not for all invoices but there are many invoices, So please help us as why self assessed tax liability line is debit and credit

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!