• juju
  • juju
  • Senior Member
  • Offline
  • From: Indonesia
  • Registered: 02/02/2011
  • Posts: 62

Topic: Supplier prices rise

Hello,

I note purchase of suppliers in accounts payable and customer sales in accounts receivable,
I purchase item A from suppliers with quantity 100 in a price of $5,
and on the same day sale to customer quantity 40 in a price of $7,
quantity stock 60 in Inventory location ,
The next day the supplier to revise the price to $6,

How to entry supplier Credit Notes if prices rise,
its influence with the stock in Inventory Valuation Report and accounts payable increase.

Thanks & Best Regard
Jujuk - Indonesia

ING NGARSO SUNG TULODO, ING MADYO MANGUN KARSO, TUT WURI HANDAYANI
  • joe
  • Administrator
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Supplier prices rise

If the price rice after the GRN receival this will be corrected when the supplier invoice is entered (you enter the new item price here). So you don't have to worry about that.
If this is a correction to the supplier invoice, you will have to first enter a credit note of that invoice, and enter the new supplier invoice.

/Joe

  • juju
  • juju
  • Senior Member
  • Offline
  • From: Indonesia
  • Registered: 02/02/2011
  • Posts: 62

Re: Supplier prices rise

Thanks Joe,

What I did the same thing, If this is a correction to the supplier invoice but purchase price down from the supplier.

Jujuk

ING NGARSO SUNG TULODO, ING MADYO MANGUN KARSO, TUT WURI HANDAYANI