Two-way invoice matching process The 2-way invoice matching process is a method used in accounting to ensure that the invoice amount matches the purchase order amount and the goods receipt amount. This process involves comparing the invoice received from a supplier with the purchase order and the goods receipt and ensuring that all three documents… Read More »
Credit Note without GST Charges Credit note without GST charges, Yes, a supplier can issue a credits note without GST charge under certain circumstances. A credit note is typically issue to adjust or rectify an incorrect invoice or to provide a refund to the buyer. If the original invoice did not include Good and… Read More »
Differentiate between a Purchase invoice or sales invoice To differentiate between a Purchase invoice or sales invoice, specific details within the document can be examined. Here are some key features that can help distinguish between the two: 1.Direction of transaction: Determine the nature of the invoice by identifying the direction of the transaction. A purchase… Read More »
If an invoice is not approved, what will happen If an invoice is not approved, it will be considered as a disputed invoice. The payment process for the disputed invoice will be put on hold until the issue is resolved. The invoice will be sent back to the supplier with a reason for rejection and… Read More »