Hi Uday,
Yes, the retro billing and the Supplementary invoice are one and the same. We will create this due to the price differentiation for the previous invoices. E.g: You have an agreement to supply a material X to the customer for Rs100 through out the year. You are supplying the material X with the agreed prices to the customer. suppose In the middle of the year the costs are increased and it is not possible for you to sell that material for Rs100. Then You will have negotiations with the customer regarding this. this process will go on and you will be supplying the material for RS100. If finally due to the increased prices customer agrees to pay Rs 110 and also for the previous two months with this price. In this case for the remaining Rs10 for the previous two months invoices you will rise supplementary invoice or retro billing.
Regards,
S.Himavanth.
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