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author's profile photo Former Member
Former Member

Procurement issue

Dear Experts,

We are procuring coal for a power plan. The coal will be sold by our vendor and transporting it (via railway) will be done by a third party. The invoice of the coal will be given at the intial station. If during the transport, we lose some coal, what entry would go into the inbound? If the invoice is of 100 MT and i receive 99, how does one cover the difference.

Thank you,

Burzes

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2 Answers

  • author's profile photo Former Member
    Former Member
    Posted on Sep 28, 2011 at 04:46 AM

    Hi,

    PO is of 100 MT

    GR is 99 MT

    IR is 100 MT

    if this the case the difference will be added to the cost of material at the time of IR

    GR/IR

    Material A/C Dr(Difference Amount)

    To Vendor

    If material is maintain of Moving Avg Price.

    if on Standard price diff wil go to Price difference

    Regards,

    Shayam

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 13, 2011 at 04:36 AM

    Thanks

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