When goods are exchanged there is no credit posted to the Creditors account - there is only journals for the stock being replaced. There is no posting for GST.
Example
| Ex GST Cost | GST | Inc GST Total | |
|---|---|---|---|
| Part A - Shipping Return | 585.00 | 58.50 | 643.50 |
| Part C - Exchanged item | 550.00 | 550.00 | |
| Part B - no Shipping Return | 600.00 | 60.00 | 660.00 |
| Part D - Exchange item | 625.00 | 625.00 |
Journal
| Warehouse Mask | GST Code | Debit | Credit | |
|---|---|---|---|---|
| Part A - Inventory Value In Transit Warehouse |
|
585.00 | ||
| Part A - Stock Write Off | 585.00 | |||
| Part C - Inventory Value Current Warehouse |
|
550.00 | ||
| Part C - Stock Write On | 550.00 | |||
| Part B - Inventory Value Current Warehouse |
|
600.00 | ||
| Part B - Stock Write Off | 600.00 | |||
| Part D - Inventory Value Current Warehouse |
|
625.00 | ||
| Part D - Stock Write On | 625.00 |
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