Unreconciling payments causes imbalances in chart of accounts
I'm trying to set up UK accounts but the "Tax Cash Basis Edit Base Account" (account_cash_basis_base_account) and "Cancel Journal Entries" (account_cancel) are not Working as expected
Odoo V11
To demonstrate my point...
A single 20% Tax set up as
Tax Due : Based on Payment
Tax Received Account : 220001 Box 1 – VAT due in this period
Base Tax Received : 220206 Box 6 - Total value of sales
Using an empty Journal and a single invoice £100 + 20% VAT= £120 total
1) Create and Validate the invoice...
Code Account Debit Credit Balance
110000 Debtors Control Account £ 120 £ 0 £ 120
220000 Sales Tax Control Account £ 0 £ 20 £ -20
400000 Sales category 1 £ 0 £ 100 £ -100
Perfect -
2) Create and match the "Payment"
Code Account Debit Credit Balance 110000 Debtors Control Account £ 120 £ 120 £ 0
120001 Bank £ 120 £ 0 £ 120
220000 Sales Tax Control Account £ 20 £ 20 £ 0
220001 Box 1 – VAT due £ 0 £ 20 £ -20
220206 Box 6 - Total value of sales £ 100 £ 100 £ 0
400000 Sales category 1 £ 0 £ 100 £ -100
Box 1 Shows VAT due £20 correct - owed to Tax man
Box 6 Total Value of sales should be £100 - Credit/ Debit both set to £100 - correct as per documentation to balance books (edit)
3) For whatever reason we now un-reconcile and cancel the payment
Code Account Debit Credit Balance 110000 Debtors Control Account £ 120 £ 120 £ 0 220000 Sales Tax Control Account £ 20 £ 40 £ -20 220001 Box 1 – VAT due £ 20 £ 20 £ 0 220206 Box 6 - Total value of sales £ 200 £ 200 £ 0 400000 Sales category 1 £ 0 £ 100 £ -100
Box 1 VAT due - balance £0 correct but Credit/Debit not cancelled only balanced
Box 6 Total Value of Sales has been double not cancelled
Now we cancel the invoice
Code Account Debit Credit Balance 220000 Sales Tax Control Account £ 20 £ 20 £ 0 220001 Box 1 – VAT due £ 20 £ 20 £ 0 220206 Box 6 - Total value of sales £ 200 £ 200 £ 0
Box 1 VAT due - correct but shows values we have not received
Box 6 Total Value of Sales - £0 - but shows values we have not received
