Invoice Verification

1) Invoice
Created Invoice Using MIRO of PO which is pending for Invoice verification
With reference to Purchase order no.

Accounting terms:
2) Credit Memo:
It is instant action when we done the GRN, in case any material will receive damage or faulty as per
business agreement we do the GRN for whole qty as available in PO and in challan but for damaged
qty we will do return delivery or return PO and send back damaged material to vendor and for this
purpose we will raise credit Memo and asking him to pay that much amount of material that we
have send him back. Scenario will change as per company agreement or company to company

Created NEW PO

Goods receipts against PO

Return PO Created
Invoice verification of return PO as Credit MEMO

Simulation entries:

Accounting key Generated

3) Subsequent debit
This the concept in which company will have to pay to the vendor for different reason like increase
in petrol charges as well due to some other issues that company will pay using subsequent debit
process. This is not a Instant process as goods receipt , this will arise after day of goods receipt due
to different reasons as per market price change relevant to material which we have bought.

Accounting entries:
4) Subsequent credit
This is wise versa case of subsequent debit, Not a instant process it will happen after goods receipts
done.
Ex. After goods receipt of 1 month in warehouse some material found damaged then company will
decided to return those material to vendor and ask to repay to company in such case we use
subsequent credit.

Simulation screen:

Accounting Entries
Here in purchase history will get to see all the entries

EVALUATED Receipt Settlement

Prerequisite:
1) Check the Auto ERS setting in vendor master
2) Create Info record and maintain tax code in it
3) After goods receipt in MRRL do execute the document it will generate invoice document,

1) Info record created with Tax code maintain in it:

2)maintain changes in Vendor master

PO created
Goods receipt created

Preview of ERS document

After settlement run:

Accounting entries