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Dear Team,
We received a invoice from a vendor with higher rates than the P.O. Rates.
We have to regard this Invoice as it (Invoice) is presented to Tax Deptt.
(Purchase receipt and purchase invoice is already posted with original/Lower Rates ).
We have to issue a Debit Note (Containing only value, No Quantity will be reversed.)
Can you plz guide the process to handle this issue in NAV 2016.
Best Regards,
Ashish
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Dear Ashish while raising debit note you can select Type = Charge Item and with the same GST Group code and HSN/SAC Code you can proceed. All you have to do is Assign Item Charge Assignment to this particular Purchase Receipt.
Hi,
the simplest way is to post Credit Memo directly to GL Code for the original rate and then raise a new Purchase Invoice with GL Code with the new value. However this will not change the value of the stock received (if the difference is insignificant, some companies chose this way).
However, if you need stock value to change, you have to create the Charge Item, post the credit note with that charge item applying it to the receipt (this will make the new stock value as zero), and then raise the purchase invoice with Charge Item, applying it to the same receipt, that will increase the stock value to the required amount.
And next time do not post the purchase invoice until you actually have the invoice :)
Hope that helps.
Robertas
Without quantity it will not allow you to post.
You have to mention quantity.
As you purchase with 120 (100 Rs invoice and 20 Rs GST).
Create credit memo for the same (with applies to document) AFTER posting you can create fresh PO with accurate data.
Yes Paras,
the issue is:
If I use “Quantity” '0' in line item,
and provide “Direct Unit Cost Excluding Tax” @20,
then system calculates “Line Amount Excluding Tax” as 0
and Credit note value remains ‘0’
Now how to post this Credit note without reducing Quantity from Stock.
Hi,
you also have to mention applies to document type and document no. in application group in purchase credit memo. then it will take the amount of gst.
Best Regards,
Paras Mehan
sorry paras above option is not working in our case...
Actual Approved Purchase Price of Item = 100 + Tax/GST and Qty – 1
Vendor Invoice Price of Item = 120 + Tax/GST and Qty - 1
(Vendor Invoice must be regarded as it is presented to tax Deptt but actual approved price is @100; and a Debit Note @20 has to be raised)
At the time of processing Purchase Invoice in NAV Unit Price is changed to 120 (+Taxes) from 100 (+Taxes) -> Purchase Invoice Posted.
Now with reference of Purchase Invoice Posted, we need to create a Credit note which should reduce inventory cost, Taxes, vendor ledger @20 without reducing Receipt Quantity.
Thanks Paras
Hi,
You can do it in couple of ways.
First one you can post purchase credit memo for that order. After that you can create purchase order with new data.
2nd one you can post revaluation journal with mention applies to entry and After that you can post inventory cost to GL.
But it would be better if you go by purchase credit memo.
Best Regards,
Paras Mehan
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