When the errors in need of correction information, the recognition accounting entries for the invoice replace (HĐTT) becomes necessary. This article will help you understand more about how accounting alternative billthe note is important to grasp in order to ensure legal compliance for business. Let's Accnet learn in detail under the following article!
1. How accounting invoice the correct replacement
Pen mathematics, general applied for all the cases:
| Get pen original payment |
|
| Record the journal new |
|
Below are specific examples in the case of accounting related to bill alternative:
- Accounting alternative bill to invoice is cancelled
- Accounting HĐTT for lost bills
- Accounting HĐTT due to errors
- Accounting HĐTT due to price adjustment
- Accounting HĐTT due to changes in customer information
1.1. Accounting alternative bill to invoice is cancelled
Business A detect flaws on the original invoice when selling goods worth $ 50 million (not VAT 10%). The original invoice is cancelled, the business issuing the bill replaced with the correct information.
Pen initial payment:
- Debt TK 131: 55 million
- Have TK 511: 50 million
- Have TK 3331: 5 million
Get pen original payment:
- Debt TK 511: 50 million
- Debt TK 3331: 5 million
- Have TK 131: 55 million
Recorded pens payment by invoice replace:
- Debt TK 131: 55 million
- Have TK 511: 50 million
- Have TK 3331: 5 million
1.2. Accounting invoice replacement for lost bills
Business B has invoice for client C $ 100 million (not VAT 10%). The original invoice is lost, businesses need to issue an invoice instead.
Pen initial payment:
- Debt TK 131: 110 million
- Have TK 511: 100 million
- Have TK 3331: 10 million
Accounting when released alternative bill:
- Due to the original invoice is lost, no need to cancel the entry if you've accurately recorded earlier.
- In the case of adjusted or not recorded, need recorded by invoice instead.
1.3. Accounting HĐTT due to errors
Business C discovered that bill was for customers with value 200 million (excluding tax, VAT 10%) had errors in the unit price. Way accounting alternative bill as follows:
Pen initial payment:
- Debt TK 131: 220 million
- Have TK 511: 200 million
- Have TK 3331: 20 million
Get pen original payment:
- Debt TK 511: 200 million
- Debt TK 3331: 20 million
- Have TK 131: 220 million
Record the journal right by invoice replace:
- Debt TK 131: 220 million
- Have TK 511: 200 million
- Have TK 3331: 20 million
1.4. Accounting invoice replaced due to price adjustment
Business D discovered that the selling price of goods have changed from 300 million to 350 million (not VAT 10%) after invoice.
Pen initial payment:
- Debt TK 131: 330 million
- Have TK 511: 300 million
- Have TK 3331: 30 million
Get pen original payment:
- Debt TK 511: 300 million
- Debt TK 3331: 30 million
- Have TK 131: 330 million
Record journal entries according to new price:
- Debt TK 131: 385 million
- Have TK 511: 350 million
- Have TK 3331: 35 million
1.5. Accounting HĐTT due to changes in customer information
Business E has invoice for customer F with value 400 million (excluding tax, VAT 10%). Then, customer information changed (tax code)
Pen initial payment:
- Debt TK 131: 440 million
- Have TK 511: 400 million
- Have TK 3331: 40 million
Get accounting when accounting alternative bill:
- Debt TK 511: 400 million
- Debt TK 3331: 40 million
- Have TK 131: 440 million
Recorded journal entries with new information:
- Debt TK 131: 440 million
- Have TK 511: 400 million
- Have TK 3331: 40 million
2. Accounting alternative bill that affect the financial statements do not?
Yes accounting alternative bill may affect the financial statements, particularly when the original invoice was recorded in the previous period:
- Change in revenue/expense was recorded directly affect gross profit/net profit of the business.
- When released alternative bill, businesses need to adjust to declare VAT, leading to arrears of taxes.
- Bill replaced, re-adjust the balance of the accounts receivable of clients, pay to the supplier, affect public debt/cash flow.
- If alternative bill related to the states before, businesses need to adjust the financial statements were published to ensure authenticity.
- Do fluctuations in the financial indicators as important as the profit margin, the ratio of debt to equity.
3. Accounting HĐTT for insider trading other nothing compared to transactions outside?
Accounting alternative bill for insider trading basically the same with the transaction outside, but there are some differences to note:
- Insider trading should be excluded when making financial statements consolidated to avoid recorded two times the revenues, expenses and assets.
- When issuing bills, replace both units involved in the transaction internal to sync recorded to ensure the books consistency.
- Requires the thorough inspection between the units to avoid discrepancies in the books.
- The bill substitutes for insider trading still must fully comply with the tax regulations, accounting as transaction outside.
After mastering the way accounting alternative bill and a number of related problems, hope you will obtain the knowledge necessary to carry out this work on bookkeeping correctly. Thank you for taking the time to read this article, wish you success in the financial management and accounting of yourself!
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