Wednesday, June 30, 2010

Different types of Invoice Verification

Invoices based on Purchase Orders: With purchase-order-based Invoice Verification all of the items of a purchase order can be settled together, regardless of whether or not an item has been received in several partial deliveries. All of the deliveries are totaled and posted as one item.

Invoices based on Goods Receipt: With goods receipt based Invoice Verification, each individual goods receipt is invoiced separately.

Invoices without an order reference: When there is no reference to a PO, it is possible to post the transaction directly to a Material Account, a G/L Account, or an Asset Account.

You can park Invoices that reference POs and GRs as well as Invoices with no reference in the system. When you park a document or change a parked document, neither substitution nor validation is supported. The system only carries out these functions after you actually post a parked document.

2 comments:

Anonymous said...

Please elaborate on Inventory Management. It is a very important part of MM and is required by all companies. Could you provide more details on IM with examples of MIGO for various scenarios including complete goods receipt, partial Good receipt of items and how they are accounted for?.

Also, if you include screenshots and indent and number your explanation points, please identify those numbered identifications on the screenshot.

Sujata said...

Thanks for sharing the info. Its really helpful.
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