Adjustment for amount difference between GR and IR

[mdtariqul_alam]

Objective

Goods receive (MIGO) has been completed with per pc price 0.20 USD and raw material was consumed.  When Bill submitted, after amendment per pc price would be 0.30 USD.

Purpose

Due to raw materials price change, When bill entering (MIRO), residual amount would be adjusted with “Gain/Loss Price/Qty variance” GL.

Purchase order Document

Please follow the below mention screenshot, goods receive (MIGO) quantity 2000 pc with per pc price 0.20 USD.

MIRO Document

Please follow the below mention screenshot, invoice quantity 2000 pc with revise unit price 0.30 USD instead of 0.20 USD. As a result, total Invoice amount would be 600 USD. Balance amount offering 400 USD because goods received (MIGO) amount was 400 USD.

Click the "GL Account" tab for adjustment.

Due to raw materials price change, rest of the amount 200 USD would be charged with “Gain/Loss Price/Qty variance” GL. 

Update the following required and optional fields:

Field Name	Description	Values
GL Account	Code identifying the General Ledger account	Example: 520500
Amount	Amount of a adjustment	Example: 200
Cost center	Enter the Cost center code	Example : 2000
Tax Code	Mention Tax code	Example: Blank

FI Entry