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author's profile photo Former Member
Former Member

Actual price at the time of Goods Receipt

Hi Gurus,

We are buying a chemical material. During transportation due to evaporation there will be some loss in weight. We are receiving goods as per the actual weighment at the time of GR.

But payment will be made to vendor as per the invoice value which will be calculated on the basis of weight at the time of despatch at vendor's premises.

For ex. vendor despatched 10MT of material @1000 INR per MT and total coming to 10000 INR. Due to evaporation loss we have received on 9.5MT.

GR will be done for 9.5MT. Invoice has to be posted for 10000 INR but for quantity of 9.5MT. So stock value at the time of GR has to be debited with 10000 INR instead of 9500 INR as per PO.

We can adjust these values manually at the time of invoice posting. But we want these postings to be happened at the time of GR only.

This evaporation loss is dynamic for each tanker. So I am thinking to enter this loss value in batch characteristic.

Is there any possibility of changing the net price in accounting document at the time of GR with the value entered in batch characteristic.

regards,

Mallik

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2 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Dec 05, 2007 at 10:34 AM

    Hi,

    Since you are incuring the loss declare this loss as scrap qty after receiving in unrestricted stock or Pay at actuals wt for vendor after negotiating.

    Thanks

    Suresh

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 05, 2007 at 10:53 AM

    Hi

    Listen my explanation carefully....

    You have Ordered for 10MT of material @1000 INR per MT ...Due to evaporation you receive only 9.5MT only...

    So If you do GR for 9.5MT...Stock Acc. is Debited ie) 9500INR +

    G/R & I/R Cle.Acc. is Credited ie) 9500INR -

    ( I have considered you are maintaining Moving Ave.Price for the material)

    But you have to Pay the vendor based on PO...ie) He has despatched 10MT of material @1000 INR per MT and he will send the invoice according to that only...Also you are doing MIRO based on PO only....So During Invoice verification the accounting document will be generated as below...

    Vendor Acc. is Credited ie)10000INR -

    G/R & I/R Cle.Acc. is Debited ie) 9500INR +....further to that

    Stock Acc. is further Debited ie) 500INR +

    This is how the Accounting documents gets adjusted automatically..

    You need not do anything.

    Reward if useful

    Regards

    S.Baskaran

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