Miro

[pratap_jk]

Hi Experts,

Can any one explain abou the following

Invoice- I know

Credit Memo- In which stage we use & y?

Subsequent Credit-In which stage we use & y?

Subsequent Debit-In which stage we use & y?

Plz do give ur views

[Former Member · Accepted solution]

Hi,

1) Credit Memo - This is used when you want to pay the vendor advance. That means if you want to pay the vendor before receipt of material / before receipt of invoice.

2) Subsequent Credit - If you find that the actual amount due for payment is more than the invoice amount booked. Then you book subsequent credit.

3) Subsequent debit - If you want to debit the vendor after booking invoice (for example - due to material defect discovered at later stages). Then you book subsequent debit.

Hope this clears.

Regards,

Prashant

[former_member192897]

Hi Pratap,

Credit memo is used for Vendor returns. Suppose you have procured some material after gr & miro and payment you found some of the material / all material is damaged. In this case you raise a Return purchase order for the material and make gr (161 Mov type will automatically takes place in this case) and raise a credit memo to get back payment.

Subsequent debit is used if you have already invoiced

You have already received an invoice from your vendor for all the goods received. Subsequently, freight costs are to be taken into account, however, the invoice quantity remains the same.

Subsequent credit is used if you already have done a credit memo on the PO

You have already received a credit memo from your vendor for all the goods received. Subsequently, freight costs are to be credited to your company, however, the credit memo quantity remains the same.

Revert back in case any doubt.

Reg,

Ashok

• Rewards welcome.

[pratap_jk]

Hi Ashok,

Thanks for ur reply,

But subsequent credit- what is credit memo raised by the vendor. &

While doing miro invoice- can we specify the unplanned costs also.

plz do clarify

[former_member192897]

Hi Pratap,

You can search answer for your question in my previous reply itself.

Vendor will raise the Credit Memo in the Following Scenario.

Suppose you have ordered "X:" material for 100 nos with price 10 ea.

Vendor will send the goods of 100 nos and you received it thru. migo. Now vendor will send the invoice for 150 nos.

Because the total po qty is 100 only and vendor invoice qty / price is more. You ask to vendor to raise a credit memo for the difference amount.

So, Vendor will raise a Credit memo if the invoiced qty/price is too high comapre to po.

Regarding the Unplanned Deleiver costs You can use in MIRO. Normally they will be used for Freight / addl costs.

Hope this will help you to understand the scenario better.

Revert back in case doubts.

Reg,

Ashok

• Rewards welcome.