1. Full Service Tax Invoice issue
GL Acc Desciption Tax DR CR 300-A0001 Customer ABC 1060.00 500-000 Service Sales SV 1000.00 SST-203 SST - Deferred Tax SV 60.00
2. Partial Payment knock-off with invoice
GL Acc Desciption Tax DR CR 330-000 BANK 530.00 300-A0001 Customer ABC 530.00
- System auto reverse the SST-Deferred Tax after knock-off
GL Acc Desciption Tax DR CR SST-203 SST - Deferred Tax 30.00 SST-202 SST - Service Tax 30.00
- 3. Reduce/cancel the partly of the service amount. Issue CN using tax code: SV
GL Acc Desciption Tax DR CR 500-000 Service Sales SV 500.00 SST-203 SST - Deferred Tax SV 30.00 300-A0001 Customer ABC 530.00
- SST Deferred Tax account = ZERO if the Full Service Tax Invoice (eg. SV only) outstanding is ZERO.
- SST Deferred Tax account <> ZERO if the service tax invoice has mixed tax type (eg. ST, SV and empty tax code).