Adjustment journals for purchase orders

Transactions that have been posted in accounts payable or general ledger can be changed. The changes can include everything but the primary key. For example, values, dates, general ledger codes, and descriptions can be changed. If the primary key must be changed, then the transaction should be canceled.

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.