Financials for India - EBS (MOSC)

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Rounding off of India Taxes

edited Feb 15, 2011 3:21AM in Financials for India - EBS (MOSC) 6 commentsAnswered
 Hi Team

We are facing an issue where the India Taxes are getting rounded off on Sales Order Shipment. But when the AR invoice is generated using Auto Invoice Import, the taxes appears in Decimal. This creates difference in GL in tax account

Below are the accounting entries

1. On shipping below journal entry is generated directly in GL_INTERFACE. This entry is rounded off.

Excise Payable Dr
PLA A/c              Cr

After Auto Invoice,  AR invoice generated and below entry is generated in AR module

Receivable Dr
Income        Cr
Excise Payable Cr

This entry is in decimal

So Excise Payable  account in GL will always show some balance.

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