Financial Management - PSFT (MOSC)

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AP Refund (From Supplier) and AR receipt

edited Sep 19, 2019 1:24AM in Financial Management - PSFT (MOSC) 9 commentsAnswered

Hi,

Against a supplier, we have a credit memo amounting to INR 100,000 and we have an unpaid invoice amounting to INR 50,000. So there is a INR 50,000 credit balance with the supplier. The supplier send a INR 50,000 refund via a check payment.

Now I can record this transaction in Oracle using the refund functionality and the supplier balance will be zero.

But the user has already entered a AR Receipt amounting to INR 50,000 and this transaction has been accounted and reconciled in cash management.

What can I do here?

Thanks,

Shankar

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