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How to post Rejected Invoice Adjustment?

edited Jun 19, 2024 8:28AM in Receivables & Collections 1 comment

Summary:

The Business wants to have an accounting entry for rejected Invoice Adjustment to monitor some Receivables Activities.

Business Process:

There is an Open Invoice in Oracle and payment will be processed through a third party application (Integration to Oracle).

Existing Process:

AR Invoice (Oracle): Php 1000

Receipt/Payment (Third Party App): Php 800

Adjustmets (Expanded Withholding Tax, Unauthorized deductions(e.g Discounts) ) (Third Party App: Php 200

Third party app to Oracle Integration:

Receipt and Invoice Adjustments will be created in Oracle from the third party app.

Invoice with Php 800 applied amount and 200 Invoice Adjustments(EWT and Unauthorized deduction), user will reject the Invoice Adjustments since it will be processed after they received the Certificate from the Cusotmer. But, the business wants to monitor the entries for those rejected Adjustments.

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