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Thread: Sage Evolution Tax adjustment posting?

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    New Member Dal1's Avatar
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    Question Sage Evolution Tax adjustment posting?

    I would appreciate help with posting a VAT Adjustment entry in Evolution.

    I need to know how to post a 100% tax entry.

    The scenario:
    Let's say I have supplier invoice that was posted with the inclusive amount, but without taking any VAT into consideration in a prior period, but now need to include that VAT in the current period to correct. How would I do that?

    I know there is a 100% tax type, but how do I use it? When I try do do a general journal using that, and I put the VAT amount in the debit field, it calculates an amount in the tax amount half of what I entered as debit.
    Also, this way I would use the VAT account twice, as I choose the VAT account, and a type type, which also uses the VAT account, then still have to have a contra account. If I simply do a general journal debiting VAT, crediting stock, no tax type is select and would not pick up in the VAT report.

    As an example, lets say the supplier invoice was R114. If it was posted correctly initially, it would have been:
    DR CR
    Supplier R114
    VAT R14
    Stock R100

    what was posted:
    Supplier R114
    Stock R114

    What I now want to do to correct this
    Supplier -
    VAT R14
    Stock R14

    This will ensure the VAT is recorded and the stock reduced to reflect the exclusive amount.
    How do I post the adjustment entry for R14 as Evo halves that amount to the tax account?

    Please someone help me out of my misery

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    I would suggest a credit note, exactly the same as the invoice (but credit), and then process the supplier invoice correctly, rather than trying to do an adjustment for VAT only.

  3. #3
    New Member Dal1's Avatar
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    Quote Originally Posted by Andromeda View Post
    I would suggest a credit note, exactly the same as the invoice (but credit), and then process the supplier invoice correctly, rather than trying to do an adjustment for VAT only.
    Thank you, yes it seems I'm going to have to do it that way.

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