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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2608
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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Second opinion] - If I have a invoice for $550.00 and the

Customer Question

Second opinion] - If I have a invoice for $550.00 and the IRS off set 549.00 of it. How should I write the GL and should I remove the invoice from my AR as paid in full or should I apply the dollar they paid and write off the 549.00 the IRS took.
Submitted: 11 months ago.
Category: Finance
Expert:  Mark Taylor replied 11 months ago.

Hi, my name is Mark. I will be happy to help you with your questions.

Expert:  Mark Taylor replied 11 months ago.

Let me make sure that I understand this. You had a tax liability of $550 with the IRS and they IRS reduced the amount by $549.