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GeekInterview.com > Interview Questions > Accounting > Accounts Payable
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Question: After raising GR then raise invoice for partial quantity. eg raised GR for 1000 quantity and raised invoiced for 500 quantity. Now if u want to reverse the GR, u have to reverse the Invoice also. If the payment done for the invoice, u cant reverse it. So how can we handle in this situation.
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| October 10, 2006 17:31:06 |
#1 |
| Md Imran Siddiqui |
Member Since: Visitor Total Comments: N/A |
RE: After raising GR then raise invoice for partial qu...
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For the difference quantity of 500 for GR to PV, we can rasie a Purchase return & send back the goods. For the GR quantity of 500, for which PV is booked & payment is done.we can rasie a sales invoice & then make Receipt entry or rasie a debit memo againt the party. |
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