on 09-15-2008 5:12 AM
Hi,
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?
Thank you
vivek.
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.
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