Financials for India - EBS (MOSC)

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Recoverable tax in PO Receipt matched to Invoice, Tax line accounting is showing Item charge account

edited Jun 11, 2018 1:51AM in Financials for India - EBS (MOSC) 3 commentsAnswered

These are the expected accounting for Recoverable tax:

1] PO Receiving -    Interim Recovery a/c Dr

                                 Accrual a/c Cr

2] Delivery and Recovery clam -  Final Recovery a/c Dr

                                                     Interim Recovery a/c CR

3] Matched Invoice Misc. Line [Tax line]    Accrual a/c Dr

                                                                    Supplier Liability a/c CR

[1] and [2] is performing OK, as per expectation

[3] accounting in matched invoice is wrongly coming as

                                                                    Item Charge a/c Dr

                                                                    Supplier Liability a/c CR

Can anyone got this error also, and how you resolved

Thanks

Atanu Roy FCA, AICWA

Chartered Accountant

Oracle application consultant

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