Cam sombody tell me when should a liability be created?
I mean when should an Invoice be posted in ledger?? below are ther conditions;
- After receiving the bill?
- After receiving sales tax invoice?
- After receiving GRN?
Would sombody help me in this, It would be higly appreciated.
It sounds like you are referring to receiving a sales invoice from a supplier. This is entered in your business records as a purchase invoice. Read this Guide: Manager Cloud.
And what is GRN? (Remember, Manager is used all over the world, and your acronyms don’t necessarily mean anything to others.)
GRN = Goods received note.
For information on goods receipts in Manager, see this Guide: Manager Cloud. In Manager, however, a goods receipt is not something you receive, it is a transaction you generate yourself. If you are being sent something by a supplier to indicate delivery, that would correspond to the supplier’s delivery note.