1. Recording the Supplier Invoice Alpha SARL receives an…
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1. Recording the Supplier Invoice
Alpha SARL receives an invoice from Beta SA for the purchase of computer equipment totaling €2,000 (including VAT). The accounting entry is as follows:
606 - Purchases of computer equipment €1680
44566 - Deductible VAT on other goods €320
401 - Supplier Beta SA €2000
2. Recording the customer invoice
Alpha SARL issues an invoice for €1500 including VAT to Beta SA for the sale of software. The corresponding accounting entry is:
411 - Customer Beta SA €1500
706 - Services rendered €1250
44571 - VAT collected €250
3. Partial offsetting entry
Alpha decides to partially offset the amounts due. Beta still owes Alpha €500 net after offsetting. The offsetting entry is:
401 - Supplier Beta SA €1500
411 - Customer Beta SA €1500
This entry cancels both partial balances, and the remaining balance of €500 is held in the supplier account, to be settled later.
Alpha SARL receives an invoice from Beta SA for the purchase of computer equipment totaling €2,000 (including VAT). The accounting entry is as follows:
606 - Purchases of computer equipment €1680
44566 - Deductible VAT on other goods €320
401 - Supplier Beta SA €2000
2. Recording the customer invoice
Alpha SARL issues an invoice for €1500 including VAT to Beta SA for the sale of software. The corresponding accounting entry is:
411 - Customer Beta SA €1500
706 - Services rendered €1250
44571 - VAT collected €250
3. Partial offsetting entry
Alpha decides to partially offset the amounts due. Beta still owes Alpha €500 net after offsetting. The offsetting entry is:
401 - Supplier Beta SA €1500
411 - Customer Beta SA €1500
This entry cancels both partial balances, and the remaining balance of €500 is held in the supplier account, to be settled later.
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