Vendor & customer same person

[Maf. King]

On Sun 27 April 14 01:24:15 tsagar wrote:
> Maf,
> 
> Thanks for the explanation. There's another issue that somewhat complicated
> the scenario. The VAT is to be applied at different rates - for the sale,
> it's 5.5% as the volume is normally larger and it puts the transaction in a
> different bracket. For the buy-back, since the volume tends to be smaller,
> the VAT applicable is 14.5%. Still, I think your idea is the best so far. I
> guess I'll have to simply pass a journal entry for the tax difference. That
> might cause the VAT reports to come out erroneously. However, I guess I'll
> have to accept it as a lesser inefficiency
> 
> Thanks a lot.
> 

Hi,

I wonder if you can have 2 different tax table entries, where the credit note 
is different to the "parent" invoice, and just ensure that the correct rate is 
applied to the credit notes. I'd imagine that it would be fine - you 
presumably would have to have the 2 rates set up anyway, if it is a volume-
dependent rate.

HTH,
Maf.