Explanation
...
4. Select the Invoice for reporting Bad Debt Recovered, then click "Report Bad Debt Recovered"
Detail explanation on the listing above
Column Name | Description |
|---|---|
Document | Invoices |
that |
had |
outstanding |
amount |
6 |
months |
after |
being |
issued, |
already |
claimed |
AR |
Bad |
Debt |
Relief |
and |
filed, |
payment |
received |
after |
Relief |
claimed | |
Customer Name | Name of the customer |
Total |
Amount |
(Without |
GST) | Invoice |
total |
amount, |
before |
tax |
Total |
GST |
Amount | Tax |
amount |
for |
the |
Invoice |
Current |
Outstanding |
Amount |
(Without |
GST) | Invoice |
current |
outstanding |
amount, |
before |
tax |
Bad |
Debt |
Relief |
Declared |
(Without |
GST) | Bad |
Debt |
Relief |
Credit |
Memo |
total |
amount, |
before |
tax | |
Bad Debt Relief Declared GST Amount | Tax |
amount |
for |
the |
Bad |
Debt |
Relief |
Credit |
Memo | |
Previous Bad Debt Recovered | Tax |
amount |
for |
previously |
reported |
Bad |
Debt |
Recovered |
Credit |
Memo | |
Current Bad Debt Recovered (Without GST) | Current payment received, before tax |
Current Bad Debt Recovered GST Amount | Tax |
amount |
for |
the |
current |
payment |
received |
Note : an Invoice can be partially settled, thus, the Tax Amount claimable will always be calculated based on the outstanding amount, instead of the Total Invoice Amount
5. Once you click "Report Bad Debt Recovered", a Credit Memo will automatically be created to record the recovery. The Credit Memo will be as below, whereby badDebtRecoveredAR is the "Default GL Code for AR Bad Debt Recovered" that you have setup in EMP Configuration. The CM date is filing cycle end date.
6. Please proceed with the Output Tax Filling Step (Output Tax Filing)
7. The CM recorded in Output Tax Invoice Report, tax code: AJS (Output Tax Invoice Report)
8. GST-03 Report, on 5b Total Output Tax (Inclusive of Bad Debt Recovered & other Adjustments) and 18 Bad Debt Recovered