Need to change the Payment Discount after posting

Divya

Hi,

I have faced one requirement that the payment discount has to be changed once after posting the PO.
The exact scenario is as follows
1. One PO has been created with 10% discount with payment terms as 30 Days on 08/12/2008
2. Receipt has been posted seperately on 08/12/2008
3. Then the PO has been posted as Invoice with 10 % discount on 10/12/2008
4. Vendor Liabilities will be updated automatically.
5. Actually the client delayed the payment and he let us consider decided to release the payment on 15/01/2009 with 10% Discount.
6. At that time the vendor is saying that since ur payment term period excceds u have to pay the amount with only 5% discount.

in this case how will i update the inventory cost.
1. if i am going for Debit Note for the remaining amount then my inventory (unit cost of the respective item) will not be updated.
2. Or otherwise i have to return the PO and create a new one with 5% discount.

I need your help to sort out the issue.

Thanks & regards

ssingla

Payment discount is a financial Income/Exp. and therefore does not impact the Unit cost of the item. If you are treating payment discount as Invoice/Line discount, then that is not the correct accounting way of doing things.

reema

If you create the vendor ledger entry by posting an invoice or a purchase order, the Remaining Pmt. Disc. Possible field is calculated using the Payment Discount % field on the invoice header. If you create the vendor ledger entry by posting a purchase journal or a purchase order, the Remaining Pmt. Disc. Possible field is calculated using the Payment Discount % field on the journal line.
You can change the payment discount as long as the vendor entry has a check mark in the Open field. For each open vendor entry, the Due Date field, Pmt. Discount Date field and the Remaining Pmt. Disc. Possible field are editable.

In Vendor ledger entry u have two fields Pmt. Discount Date and Remaining Pmt. Disc. Possible.
Click on these two fields (press F2) and change the date and discount amount.

And post the payment journal.

Divya

Hi Reema,

Thanks for your valuable suggesstions. It was really helpful for me..

As u said, I have tried to do the payment journals with Payment Discount Date, Payment Discount % and also i did applied entries. But if im trying to post the payment journals, it is showing the one error.. Saying "Payment Discount % must be 0 and you cannt enter Payment Discount Date in the Journal Line".

I strucked now.. please helpme to move forward..

Thanks in Advance..

reema

Dear Divya,

U should not change the Payment Discount date and Payment Discount % In Journal Line.
U can chnge in Vendor Ledger entry only.

Try to change the fields Payment discount date and Payment Discount % in Vendor ledger entry.

Then enter the posting date in Journal line with in range of payment discount date.

Then system automatically reduce the discount amount.

The Use of the fields Payment discount date and Paydiscount % In Journal line is when you are creating the invoice through Journal then u can enter the Payment discount date and Payment Discount % .

Divya

Dear Reema,

Yes. Finally i got it.. It is working fine now.. Thanks for your giving me a immeditate solution.
Hats off... =D> =D> =D> =D>

Thanks,
Divya

reema

Glad to Help .

Could u change the status of the topic “ Solved “.

I t will increase the Power of Mibuso.