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Transfer of Tax Liability recovered in AR [message #154193]

Fri, 06 January 2006 03:43

ramansrivathsan
Messages: 24
Registered: January 2006
Location: chennai

Junior Member

Hi,

While creating a sale invoice (transaction) in AR module, the gross amount is taken to the cutomer (receivables). The item value (sale value) is taken to the sales account (revenue). The tax recovered from the customer for the Invoice is a liability and we have to make payment to the Tax authority through AP module. How, this liability gets transfered to the AP module from AR. Kindly let me clarified.

Thanks

Raman A V

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