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Former Member
Feb 15, 2012 at 11:23 AM

GR/IR Process


Dear All,

We have a scenario here at company x where they order a Christmas tree for (e.g.) £1000000.

This is paid for in ten instalments.

As we cannot GR 0.1 of a Christmas tree, we had come up with a down payment solution whereby Finance were presented with 9 installments which went to the GR/IR account. On presentation of the final invoice the Christmas tree is Goods Receipted into stock and the balance of the GR/IR account is cleared.

Unfortunately, Finance have now rejected this solution.

Does anyone have any experience or advice of similar scenarios from other customers?

Thanks and Regards,