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Reverse a posted sales tax

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Posted on by SannamKhan

Hi ,

I have a scenario as below

Step 1: I have posted Customer payment with sales Tax e.g.

Cr. tax account Rs. 20

Cr. Customer Account Rs. 80

Dr. Bank Account Rs. 100

Step 2: Now i want to reverse this transaction but the tax amount is not returned back

is there any way so that the above transaction should be reversed

Regards,

Sanam Khan

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SouravDam 11,732 on at

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Hi SannamKhan,

Need to know the following;

--- This is for which country specific ?

--- Have you selected same sales tax group and item sales tax group in reversal journal (same means; what you posted before) ?

--- Hope you are reversing the journal by manually creating a new journal. This is because system will not allow you to reverse the posted journal with account type 'Customer', 'Bank' etc.

--- Can you provide a screen shot of the reversal journal you are trying to process ?

Best regards,
Sourav Dam
SannamKhan 20 on at

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Hi,

This is for PAK

i don't want to post a manual entry for this

let me tell you the whole scenario as

Step 1: create customer payment

Cr. Customer

Cr. Sales Tax

Dr. Bridge account

Step 2: Create Bridge transaction from GL >> functions >> select bridge transaction effect of this is

Cr. Bridge Account

Dr. Bank Account

Step 3: Reverse Deposit Slip

Step 4: reverse bridged transaction from GL

Step 5: Reverse Payment (At this point this is not reversing the Sales tax amount)

Screen Shot of reversal :

Regards,

Sanam
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Ludwig Reinhard Microsoft Employee on at

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Hi Sanam,

I think the only 'safe' solution is posting a manual correction for this just the way you entered everything but with opposite signs.

Best regards,

Ludwig
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SouravDam 11,732 on at

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Hi SannamKhan,

Below are 2 options available which you can go for to reverse the posted transactions.

1) Manually create a new customer payment journal. Select same details including amount which was posted before. Select same sales tax group and item sales tax group (which you posted before). Flip the amount (whatever was posted earlier in Debit, should be Credit this time). Then post the journal.

OR

2) First check which sale sales tax code was recorded in 1st case (Point 1). Then go to General journal and create a new journal with same record (what you posted before in customer payment journal). Flip the amount. Select same sales tax code which was recorded in Point 1 under 'General' section in the journal in sales tax code field (this field is not available in customer payment journal form). Post the journal.

Then create a new customer payment journal with corrected data and post it.

Best regards,
Sourav Dam

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