Adjustment journals for purchase orders
The amendments can include everything except for the primary key. For example, values, dates, general ledger codes, and descriptions, can be amended. If the primary key must be amended, then the transaction should be cancelled.
For accounts payable, you can only adjust open items and items where the outstanding balance equals the original balance.
You can only change or cancel transactions that are not sequentially numbered and included on a legal report. A configuration option is used to indicate whether an audit trail of the original posting is produced.
You can also cancel or reverse a previous transaction, in order to create a new transaction that is a reverse image of the original transaction.
The function is not required for SOP or accounts receivable, where errors are corrected with an additional invoice, credit note, or correction invoice.
India specific
Retrospective adjustment billing is required. Adjustments include a change in price or any reason for which additional values are charged for a closed purchase order.
Changes in the price or discount price of the goods can occur for both domestic purchase orders and import purchase orders. The change in the details must be recorded after the warehouse receives the goods and before the invoice is received. These items often require amendment:
- Quantity of goods
- Value of goods
- Tax value
- Tax codes
- Discounts
How Infor supports the requirement
This requirement is not currently supported by this ERP for this country.