What documents are required before verifying invoice? what is the process if the supplier passes an invoice for more amount?

For ex: if the value of the goods is say Rs.5000,and the supplier sends the invoice for Rs.6000.

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The traditional three way match would apply here. This means the accounts payable processor should compare the purchase order with the receiving document and the invoice. If all three match, the invoice can be paid - although may organizations still insist that the invoice be approved. This approval is in addition to the matching process. If the invoice is for a larger amount, it is considered discrepant and the discrepancy must be resolved - the sooner the better.

Mary Schaeffer
author The Controller & CFO's Guide to Accounts Payable (John Wiley & Sons) and twelve other business books
editorial director Accounts Payable Now & Tomorrow (www.ap-now.com)

In such a case its very important to compare the GR note and the PO order with the invoice. In other words three way match is very important.

If the supplier invoices more than $ 5000.00 in your example the invoice should not be paid. It is important to change the price in the PO in order to make the payment. Moreover its utmost imporant to check the arrival of the material in the plant.

To conclude you should not make the payment in case the price on the invoice is more than what was agreed and in order to pay the invoice is important to change the price in the PO.

Venugopal

  • Aug 21st, 2011
 

To Process Invoice first need to check our Po term & condition and GRN Process with approval , Next if excess charged pls process as per Po only make debit note for diff amount And if charged less pass the bill as per invoice

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shaherukh

  • Aug 25th, 2011
 

Raise Debit note

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