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author's profile photo Former Member
Former Member

Very Urgent issue on credit memmo and vendor invoices

HI,

User here has a credit memmo for $ 395 of a vendor.We have received an invoice from this vendor of $ 95 in this week.Next week we will receive invoice for $ 100. Then upcoming week receive another invoice of $200.My question is when we received invoice for $ 95 i would like to make payment and wait for next invoices. But i want bank clearing to happen only after i receive all invoices. How do i keep track of these invoices . If i have hundred's of vendor's this way how to deal with this.Could anyone tell me how to clear these invoices which T.code..

Please help. Thanks in advance.

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    author's profile photo Former Member
    Former Member
    Posted on Apr 29, 2008 at 06:50 PM

    Hi Kavitha

    The best practice is to adjust the credit memo against the invoices.

    Thanks

    Ashok

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  • Posted on Apr 29, 2008 at 06:39 PM

    When you have the credit memo, why would need to pay the vendor? Can't you not adjust the invoice against the credit memo?

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  • author's profile photo Former Member
    Former Member
    Posted on Apr 30, 2008 at 07:15 PM

    Point one is u said the vendor has a credit memo of $395 that means you are owing him right.

    and lets go to youe example

    Partial Payment: vendor is paying some amount now and remaining amount will pay in future

    Ex: Vendor has to pay $395

    and paying now 95 remaining 300 will pay in future till that 300 display as a open item

    Residual payment:

    Vendor have to Pay 395 but he is paying 300 means 95 he will not pay then it will go for residual payment.

    95 will not show as a open item for that you have to create two accounts

    1)Income account

    2) Expenses account

    for example:

    1) You have to pay 4000 but you are paying 3800 means 200 is gain for you

    2) You have to receive 4000 but you received 3800 means 200 loss

    These two accounts you need assign in Automatic Account assignment:OBXL

    Gain account CR side and exp account DR side

    In your case it is accepting partial payment because the other amounts remains open items

    F-44 is used to clearing of downpayment against open item( since creditmemo is kind of downpayment i.e you owe money to vendor

    and ur doing Residual clearing in tcode f-53.

    U have to enter the reason codes for the difference amount. check that .

    hope this helps you....

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