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Intelligent Payment Automation, powered by BILL (aka Bill.com), lets you automate payments, manage vendor details, and bank account information within NetSuite.
The SuiteApp is available to organizations based in the U.S. with a valid U.S. address, or to global customers (except Canada, China, and Japan) with U.S. business subsidiaries. It only supports payments to vendors operating in the United States.
For more information, visit this thread.
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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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