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Debit Memo does not ask for Invoice reference [message #587606] Mon, 17 June 2013 06:59
manzoor ahmed
Messages: 1
Registered: June 2013
Location: Pakistan
Junior Member
Can anyone tell me that while posting a Debit memo it does not ask for a reference for the invoice being adjusted.
e.g. posted payable voucher by:
Invoice # 1

Debit Raw Material 100,000
Credit ABC Co. (Creditor) 100,000

subsequently we paid 90,000 through a payment voucher and adjusted 10,000 being an adjustment against withholding Tax (applicable in pakistan)

1) Payment voucher:
ABC & Co. (Creditor) Debit 90,000
Cash at Bank Credit 90,000

2) Debit Memo
ABC & Co. (Creditor) Debit 10,000
Tax payable (to govt') Credit 10,000

while posting the above debit memo it does not ask about the invoice is being adjusted however it ask when we are posting the payment voucher.
since debit memo is not applied to any invoice that's why it does not affect a particular report called "Payable Intelligence Report", in this report Invoice # 1 shows a outstanding (credit) balance of 10,000 however it is being adjusted through a debit memo.

Can anyone tell me that how could we apply the debit memo to a particular invoice so that Payable Intelligence report could also be reflected.

Manzoor ahmed
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