EAP: India GST Vouchers With Negative Gross Amount Have GST Accounting Entries Generated Incorrectly
(Doc ID 2825958.1)
Last updated on DECEMBER 10, 2021
Applies to:
PeopleSoft Enterprise FIN Payables - Version 9.2 to 9.2 [Release 9]Information in this document applies to any platform.
Symptoms
India GST vouchers with negative gross amount have GST accounting entries generated incorrectly with positive GST amount.
Steps:
1. Create voucher with India GST and for a negative amount, with below details:
(Navigation: Accounts Payable > Vouchers > Add/Update > Regular Entry > Invoice Information)
>> Header:
- BU: IND01
- Supplier: IND0000001
- GST: -1080INR
- Total: -7080INR
>> 1 Line:
- Item: INDCG001
- Line Amount: -6000INR
>> 2 Distribution lines:
Distribution Line_1
- Merchandise Amt: -3600INR, Dep1
Distribution Line_2
- Merchandise Amt: -2400INR, Dep2
>>Goods and Service Tax
Seq Tax Component Code Basis Amount Tax Amount Calc Scheme Tax Percent Rcvry Percent Recovery Amount
1 SGST -6,000.00 -540.00 P 9.0 100 -540.00
2 CGST -6,000.00 -540.00 P 9.0 100 -540.00
---- --------- --------------- --------- ------- ---------- ------- -------------
2. Run Voucher Posting (Navigation: Accounts Payable > Batch Processes > Vouchers > Voucher Posting).
3. Review the accounting entries (Navigation: Accounts Payable > Review Accounts Payable Info > Vouchers > AP Accounting Entries > Voucher Accounting Entries):
Expense1 CR 2400
SGST CR 216
CGST DR 648
AP Liability DR 1968
Expense 2 CR 3600
SGST CR 324
CGST DR 972
AP Liability DR 2952
Expectation:
----------------
Entries for your voucher should have been:
Expense1 CR 2400
SGST CR 216 (9% of 2400)
CGST CR 216 (9% of 2400)
AP Liability DR 2832
Expense 2 CR 3600
SGST CR 324 (9% of 3600)
CGST CR 324 (9% of 3600)
AP Liability DR 4248
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Any similarity to actual companies or actual persons, living or dead, is purely coincidental and is in no way intentional on the part of Oracle
Cause
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In this Document
| Symptoms |
| Cause |
| Solution |
| References |