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Inventory Received Not Billed - Over Bill on PO impact
Hello - We have the situation where a PO has been created, partially recieved and then Billed. The Vendor Bill is for a qty greater than what was received. A Vendor credit note was subsequently processed to correct. The net result is that the Inventory Received Not Billed is incorrect as it does NOT reflect the vendor Credit.
In Summary
1 - PO created for a qty of 100 - no accounting
2 - Item Receipt booked for qty of 30
Dr - Inventory 30 units
Cr - Inventory Received not billed 30 units
3 - Vendor Bill received for a qty of 100 (note although the PO was for 100 we have only received 30, so this is an over bill)
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