Invoice Entry

(Part 2)

Trainer : Email : Ph : (Australia)

Gurjeet Singh info@studynest.org +61413159465
 Enter or change tax information in an
invoice.
Enter or change cash discount information.
Posting of Gross or Net of cash discount.
Topics Enter invoice in a foreign currency.
Enter invoice for PO with Account Assign
Covered Group.
Enter invoices relating to a blanket
purchase order.
 Most of the Invoices received in your
company are taxable. It is your job to
check the tax data is correct.
You also take account of the Terms of
Business Payment when you enter an invoice.
Occasionally, the invoice currency
Example varies from your local currency.
Your company orders various materials
for direct consumption for example, cost
centers, assets etc. You want to verify
that the account assignments for the
cost in the invoice are correct.
Tax
Tax

Output Tax is also known as Value Added

tax (VAT).
Entering
Tax data
in an
Invoice
Customizing
Default
Value for
Tax Codes
SPRO  Material Management  Logistic Invoice
Verification  Maintain Default Values for Tax
Codes (OMR2)
Terms of Payment
 Terms
of
Payment
 To define when the invoice must be paid,
you can agree on terms of payment with
your vendor.
Terms of payment is basically the financial
compensation due for deliveries and
Terms of services rendered.
Payment Terms of payment can have three levels for
example, if you pay within 5 days there is
3% discount, within 10 days 2% and within
20 days you pay the net price.
The discount guaranteed by the vendor
therefore reduce the cost price.
Customizing
Terms of
Payment

SPRO  Financial Accounting  Account

Receivable and Accounts Payable  Business
Transactions  Incoming Invoices/Credit memos 
Maintain terms of payment (OBB8)
 Posting
Gross/Net
 Posting
Gross/Net
 Posting Gross : If you post the gross amount of an
invoice, system ignores the cash discount amount when you
enter the invoice. It post the cash discount to Cash Discount
account at the time of payment. There for the cash discount
amount is not credited to the stock/cost account.
Posting Net : If you post the net amount of an invoice ,
Posting the system posts the cash discount to stock/cost account.
Gross/Net Whether an invoice is posted gross or net depends on the
document type of the accounting document.
SPRO  Material Management  Logistic Invoice
Verification  Incoming Invoice  Number Assignment 
Maintain Number Assignment for Accounting Documents
(OMR4)
 Invoice in
Foreign Currency
Invoice in
Foreign
Currency If exchange rate is fixed, the system uses the exchange rate
from the purchase order to translate the foreign currency to
local currency at the time if goods receipt or invoice receipt.
If the exchange rate is not fixed, the system uses the current
exchange rate to translate from foreign currency to local
currency at goods receipt. In IV, system also suggests the
current exchange rate but you can change it manually.
Invoices for POs with
Account Assignment
 Different
Account
Assignment
 Types of
Account
Assignment Among other things, account assignment category
controls –
If you can post a goods receipt.
If you can post an invoice receipt.
SPRO  Material Management  Purchasing 
Maintain Account Assignment Categories (OME9)
Items with
Multiple
Account
Assignment
 Partial
Invoice
Indicator
 Multiple
Account
Assignment
in MIRO
Invoices for Blanket
Purchase Orders
Invoices
for
Blanket
Purchase
Orders
a