10. What is the double entry for service tax invoice and CN issued using SV tax code?
From eStream Software
Answer:
1. Invoice issue
GL Acc Desciption Tax DR CR 300-A0001 Customer ABC 1060.00 500-000 Sales SV 1000.00 SST-203 SST - Deferred Tax SV 60.00
2. Partial Payment
| GL Acc | Desciption | Tax | DR | CR |
|---|---|---|---|---|
| 330-000 | BANK | 530.00 | ||
| 300-A0001 | Customer ABC | 530.00 |