Gr has been done but there is no chance of inv?
GR has been done, vendor confirmed that there will be no invoice due to some reason.
Now there is open amount sitting in GR/IR A/C.
Goods received have been consumed.
As we are not expecting any invoice, i am not sure what should i do with the open amount in GR/IR A/C.
Can some one please help me out?
MaDhU ReDdY VaRiKuTi replied
In such cases general practice is to open Gr/IR account for manual posting and post debit to the account with offsetting a/c hitting to some variance account created for this purpose if you cannot relate this difference to any account.
Else a set of users should be maintained with enhanced tolerence limits to clear the differences while clearing.