Increase in PO price at reciept
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Increase in PO price at reciept
Scenario is like as below:
Initially a Purchase order with price as 30 Rs.By the time we r recieving it shoots up to 35.then How do we handle this scenario in Purchasing from accounting point of view.
Wh r all steps to be followed.
I am waiting for ur favourable reply at the earliest.
Earliest reply will be highly appreciated.
Thanks & Regards,
Naresh
Initially a Purchase order with price as 30 Rs.By the time we r recieving it shoots up to 35.then How do we handle this scenario in Purchasing from accounting point of view.
Wh r all steps to be followed.
I am waiting for ur favourable reply at the earliest.
Earliest reply will be highly appreciated.
Thanks & Regards,
Naresh
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- Joined: Sat Sep 01, 2007 12:48 pm
- Location: India
- Contact:
Hi,
How u have defined Over Receipr Control in Receiving Parameters. Based on that U can reject and accept the Order. If you have given the Price Tolerance (ex: 5%) and Action as Warning u will get a warning msg whn u want accept the order and the Action is Reject it wont allow u to accept the Order.
How u have defined Over Receipr Control in Receiving Parameters. Based on that U can reject and accept the Order. If you have given the Price Tolerance (ex: 5%) and Action as Warning u will get a warning msg whn u want accept the order and the Action is Reject it wont allow u to accept the Order.
Hi Naresh A/C entries will be like this
If Invoice Matched to Inventory Item PO with IPV
Inventory AP Accrual Acct. @ PO Price a/c Dr
IPV @ Invoice Qty* (Inv. Price - PO Price) a/c Dr
To AP Liability @ (Inv. Price * Inv. Qty)
If Expense Item PO Accrued at Period End & Variance
PO Dist Charge Acct @ Inv Qty* PO Price) a/c Dr
PO Dist. @ Inv Qty* (Inv. Price - PO Price) a/c Dr
To AP Liability @ (Inv. Price * Inv. Qty)
If Invoice Matched to Inventory Item PO with IPV
Inventory AP Accrual Acct. @ PO Price a/c Dr
IPV @ Invoice Qty* (Inv. Price - PO Price) a/c Dr
To AP Liability @ (Inv. Price * Inv. Qty)
If Expense Item PO Accrued at Period End & Variance
PO Dist Charge Acct @ Inv Qty* PO Price) a/c Dr
PO Dist. @ Inv Qty* (Inv. Price - PO Price) a/c Dr
To AP Liability @ (Inv. Price * Inv. Qty)
Hi Naresh [:)] ,
Create a Purchase Order with amount 30.
Now raise an invoice with an amount 35 for the respective Purchase Order and match the invoice with the PO.
While matching the PO in distributions screen change the match amount to 35 from 30.
Validate the invoice and you can pay it.
<font color="red"><b>Regards [:)],
Arun Reddy.
E-Mail:arunapps@gmail.com</b></font id="red">
Create a Purchase Order with amount 30.
Now raise an invoice with an amount 35 for the respective Purchase Order and match the invoice with the PO.
While matching the PO in distributions screen change the match amount to 35 from 30.
Validate the invoice and you can pay it.
<font color="red"><b>Regards [:)],
Arun Reddy.
E-Mail:arunapps@gmail.com</b></font id="red">
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Hi to all
What naresh got is a good topic. Here is the situation Prices of items are fluctuating but under Tollerence. But what client want is, for the difference in the price invoice must be Raise. There is a Standard Functionality given by oracle. In Payables Lookup codes if you see Types of Invoice there is one invoice every one is missed.
I gave from my side one help(i dont know what to say). But Admin or some other People has to help.
Thanks to all for Reply
What naresh got is a good topic. Here is the situation Prices of items are fluctuating but under Tollerence. But what client want is, for the difference in the price invoice must be Raise. There is a Standard Functionality given by oracle. In Payables Lookup codes if you see Types of Invoice there is one invoice every one is missed.
I gave from my side one help(i dont know what to say). But Admin or some other People has to help.
Thanks to all for Reply
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