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Status Acknowledged
Product IRIS KashFlow
Categories Bank
Created by Ergun Nalbantoglu
Created on Mar 26, 2019

Accounting principle for cash purchase refunds should be reported under VAT Exps

Any cash posting refunds should be reported under VAT exps, not on sales. If the cash refund is posted to P&L expense account Kashflow should mark this transaction as a purchase refund, not revenue for sales.

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