sales_credit:sales_exchange-local
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sales_credit:sales_exchange-local [2014/07/25 05:50] redwana [2. POST Sales Discount - Local] |
sales_credit:sales_exchange-local [2014/07/25 07:01] (current) redwana [APPROVE (Sales Exchange - Local)] |
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| + | ====== Sales Exchange - Local ====== | ||
| + | * Approve | ||
| + | * POST to GL | ||
| + | * Settlement | ||
| + | ==== APPROVE (Sales Exchange - Local) ==== | ||
| + | When a local Sales Exchange is approved, the Trade debtor – control A/C's sub account's credit available will be added the Exchanged amount. | ||
| + | ==== POST (Sales Exchange - Local) ==== | ||
| + | When a Local Sales Exchange is posted to GL, the following accounting entries are created. | ||
| + | ^ GL Interface Type/[Account] ^ Account Usage ^ Sub-account ^ Currency ^ Dr ^ Cr ^ Notes ^ | ||
| + | ^ STOCK IN HAND | Ledger | | Prime | | Returned Actual Cost - Exchanged Actual Cost |If Returned Actual Cost is greater than the Exchanged Actual Cost, then STOCK IN HAND is DR | | ||
| + | ^ COST OF SALES | Ledger | | Prime | Exchanged Cost of Sales - Returned Cost of Sales | | If Exchanged Cost of Sales is less than the Returned Cost of Sales, then COST OF SALES is CR | | ||
| + | ^ COMMISSION PAID | Ledger | | Prime | | | | | ||
| + | ^ SALES DISCOUNT | Ledger | | Prime | | | | | ||
| + | ^ SALES | Ledger | | Prime | | | | | ||
| + | ^ GST-OUTPUT TAX (Sales) | Tax | | Prime | | | | | ||
| + | ^ TRADE DEBTOR - CONTROL A/C | AR | Customer - Account | Prime | | | | | ||
| + | ^ COST OF SALES variance | Ledger | | Prime | Exchanged Cost of Sales variance - Returned Cost of Sales variance | | If Exchanged Cost of Sales variance is less than the Returned Cost of Sales variance, then COST OF SALES variance is CR | | ||
| + | ^ TRADE CREDITORS- CONTROL A/C | AP | Supplier - Account | Prime | | | | | ||
| - | ====3. SETTLEMENT Sales Discount - Local==== | + | \\ |
| - | + | ||
| - | Once the sales discount is settled, customer credit available will loss SGD5 amount, and the generated vouchers will contain: | + | |
| - | + | ||
| - | ^ GL Interface Type ^ Sub Account ^ Currency ^ PrimeDr ^ PrimeCr ^ BaseDr ^ BaseCr ^ Notes ^ | + | |
| - | ^ CASH AT BANK | | SGD | | 5 | | 5 | | | + | |
| - | ^ TRADE DEBTOR - CONTROL A/C | CUS-000001 | SGD | 5 | | 5 | | | | + | |
| - | ^ Totals ^ ^ ^ ^ ^ 5 ^ 5 ^ ^ | + | |
| - | \\ | + | |
/srv/www/htdocs/wiki/data/attic/sales_credit/sales_exchange-local.1406267407.txt.gz · Last modified: 2014/07/25 05:50 by redwana
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