on 04-26-2011 12:36 PM
Hi All,
We are importing our raw materials. We are posting the Goods Receipts for quantity that is equal to Invoice quantity since we have to pay the duties, etc...
Now if there is difference between physical qty and Invoice qty I would like to know the different ways by which we can take care of the variance.
Mvt 701/702 is one way, what are the other options if any?
Regards,
SSK
Hi,
If you are paying customs duty for 100 qty than you have to prepare GRN for qty mentioned in invoice.
You can use a different storage location (short receipt) to get the difference of physical & invoiced qty. by
putting the actual qty in storage location & difference qty in Short receipt storage location.
Regards,
Manish Jain
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We are importing our raw materials. We are posting the Goods Receipts for quantity that is equal to Invoice quantity since we have to pay the duties, etc...
Here you will do customs MIRO based on bill of entry from customs.
For quantity cleared from customs you can do goods receipt.
Now if there is difference between physical qty and Invoice qty I would like to know the different ways by which we can take care of the variance.
Can you clarify physical qty is GR quantity and invoice quantity(invoiced for orginal vendor) ?
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Check physically you may be goods receipted shortly from vendor ?
or evoporated or lost in transit ?
Find out exact reason for difference.
If problem is with vendor(material),
You need to pay vendor only for quantity goods receipted.Do credit memo for excess quantity invoiced.
If it is damaged or wasted or lost in your location,
You can either scrap it using 551 movement or do physical inventory adjustment using MI07 or MI10(701 movement)
or
Due to frieght vendor then you can do credit memo reduce liability to him.
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