Topic was raised on behalf of Case ID G2324889
The items receive on the FOC (free of charge) basis in shipments need to be set off from the GL 1361010 - Trade Advances - Import (PP37)- Pre paid Import Advances. For the first time we receive such through a shipment arrived in March. Therefore please advise on how this transaction should be accounted in IFS.
I am not sure what needs to be corrected. PP37 posting is dedicated to payment of advance and has nothing to do with free of charge item reception.
If you are receiving it on the basis of PO - PO price should be zero, an receipt should be invoiced at zero price.
+11
Hi,
I understood that you purchased a part and did a payment in advance. You received the part FOC.
That means in the end you paid something and the supplier needs to send you the money back, else it was not FOC and you need to register an invoice and offset the advance payment with the invoice during the invoice posting.
If you receive the money back and it hits you bank account you can create a payment on account on the suppliers account and offset it with the advance payment. Both items will match and accounts connected to the supoa and supia will be cleared.
If I misunderstood you please clarify the business case in more detail.
Regards
Ralph
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