SD

[Former Member]

Dear all

SO,Delivery,non-excise invoice created and released to accounting in july 2006

returns document created in december 2006 and stock took in to inventory

Now today if i cancell the invoice and try to release to accounting to balance the system, system is asking to post in the period 4,2006 only

If i open 4, 2006 and post , what are the affects/ influences

How to post this september 2008 OR any other way to balance the system

[Former Member]

thanks

[Lakshmipathi]

Dear GB BL

First of all, you cannot cancel an invoice which was released in July 2006. Moreover, you have indicated that in Dec 06, a return delivery is created which means, you should have also created a credit note in 2006.

Meanwhile, I have checked with my Finance expert who opined that generally, if you cancel an invoice, the relevant Tax and ED will not be recovered. Of course, ED can be availed if you submit the proof of return to excise authorities.

In your case, FI entry would be, debit entry in last year which would be shown in Balance Sheet open items and the same would be carry forwarded to current year and the same can be adjusted if you cancel in the current period, due to which, a credit entry would be posted corresponding to old debit entry.

thanks

G. Lakshmipathi

[Former Member]

Hello,

Check with your Finance expert.

Prase