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author's profile photo Former Member
Former Member

Procurement process for short fall of quantity

Dear I got new snenario its mentioned below

PO will be done for 10 Pcs Rate 100/-, GRN will be done for 8Pcs (2 pcs short) but as vendor has send the invoice along with consignment, (Rate is changed 110/-) client want to book the invoice for complete amount and then raise a credit note of 2 pcs short.

How do i process dis scenario and what are all the necessary steps do i need to take

Pls explain which account it will get posted

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3 Answers

  • Posted on Dec 30, 2013 at 04:24 AM

    PO will be done for 10 Pcs Rate 100/-, GRN will be done for 8Pcs (2 pcs short) but as vendor has send the invoice along with consignment, (Rate is changed 110/-) client want to book the invoice for complete amount and then raise a credit note of 2 pcs short.

    Please see my comments below


    First of all if it GR based invoice verification then you will not get 10 PCs rate invoice.If you receipt 8 then you will get invoice 8 PCS.


    If it is not GR based invoice versification then you receipted 8PCS and received invoice 10PCS in that case you need to raise the credit memo for 2 PCS based on your receipt.


    Finally the process depends whether you agreed the price or not.If you agree then you will pay RS 88/- as per revised price and credit memo RS 22/- for the 2 PCS.


    if you are not agreed the price then you raise the invoice RS 80/- and credit memo remaining amount 2PCS amount +extra amount.

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 31, 2013 at 11:31 AM

    Hi,

    Different account postings as follows:


    GR (@ $10) IR (@ $11) Credit Memo(@ $11) Stock Account 80 22 -14 GR/IR Account -80 88 -8 Vendor Account -110 22


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  • author's profile photo Former Member
    Former Member
    Posted on Jan 03, 2014 at 07:00 AM

    Thanks to all its sorted

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