Invoiced but not yet delivered and delivered but not yet invoiced

[Former Member]

Can anyone tell me what does this mean and how can we use this. What does recon / adjustment / target account means.

[former_member200240]

1.) Invoiced but not delivered- Means Vendor has invoiced you without Goods receipt. In GR/IR based invoice verification, it will create a Debit balance in GRIR Clearing account as credit goes to Vendor. Only on Goods receipt, this GRIR account can be cleared.

2.) Delivered but not invoiced- It has opposite effect of the above.

S Jayaram