Sales invoice Price difference

[Former Member]

Hi gurus,

Please help me to solve this scenario.

I sale 10 units material for 100 each price to my customer.

But due to some problem if he returns my material.When we Replace the material there is a Price Difference.

we are using Moving Average Price.

Now I want to sale that material again for 90 each price that will be less than price 100.

The main issue is: “ I can not change the (financial postings)invoice price when I replace the goods, this is legal requirement here”.

How would I handle this price difference.

Please help.

Regards,

George

[Former Member]

hi George,

it is a common practice that when goods are replaced, issue a new sales invoice and cancel the old invoice by issuing a credit note for goods taken back(old invoice). i.e., sales return. by doing this you can setoff/clear the old sales invoice by debiting with credit note raised.

If you still require further clarification mail to me.

Vijay

assign points if useful to you.

[Former Member]

Hi Vijay,

Thanks for your reply,

This issue is not only sales price its regarding Replace order difference due to some damage .

When Return Goods:

Dr: inventory 100

Cr: Cost of goods 100

When we Re-issue the Goods

Dr: Cost of goods 90

Cr: Inventory 90

The cost is difference of 10, because of the moving average price

Issue is “This difference in COGS can not allowed by Auditor(Legal requirement) it should be 100 again ”

How would I handle this price difference

Please help me to solve this difference

Regards,

George

[Former Member]

Hi George,

Issue a new invoice with 100 for cost of goods and issue a credit note for 10 for re-issue of goods.

You can do this as following

Dr cost of goods 90

Dr discount allowed 10

Cr inventory 100

hope this will solve your problem.

Vijay.

assing points, only if useful to you