Consignment settlement

[#1]

Dear all

Normally, we do settlement thru MRKO for payment for consignment goods. Can we go thru LIV way to pay to the vendor for consignment?

Thanks in advance

[Former Member]

Dear,

Yes you can settle the consignment vendor payments through LIV.

Removing material from consignment stores or transferring material to your companyu2019s own stock results in liabilities towards the vendor. You should settle these liabilities at regular intervals.

Consignment materials are settled without the vendor issuing an invoice, as the vendor company is unable to track withdrawals directly. The vendor can only manage its consignment stock by taking deliveries and payments into account.

You can initiate payment for consignment withdrawals using the Logistics Invoice Verification application component

To process consignment and pipeline withdrawals, choose Logistics Invoice Verification - Automatic Settlement - Consignment and Pipeline Settlement.

Regards,

Syed Hussain.