When a credit is being claimed for a pricing difference or price rebate, a credit is posted to the Creditors account, there is a GST component for local creditors and the stock cost price is adjusted in the inventory. The credit is posted to Inventory Value account attached to the inventory items,
Example
| Ex GST Price Change | GST | Inc GST Total | |
|---|---|---|---|
| Part A - Shipping Return | 50.00 | 5.00 | 55.00 |
| Part B - no Shipping Return | 60.00 | 6.00 | 66.00 |
Journal
| Warehouse Mask | GST Code | Debit | Credit | |
|---|---|---|---|---|
| Part A - Inventory Value Current Warehouse |
|
|
50.00 | |
| Part A - Creditors Value | 55.00 | |||
| Part A - GST Adjustment Inwards |
|
5.00 | ||
| Part B - Inventory Value Current Warehouse |
|
|
60.00 | |
| Part B - Creditors Value | 66.00 | |||
| Part B - GST Adjustment Inwards |
|
50.00 | ||
| Part B - Cost Price Adjustment |
|
100.00 |
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