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Invoice process

Ahrar Sabbu (Accounts Executive) (228 Points)

20 May 2014

Hello,

I am puzzled with some queries all related to Invoice Processing. Please help me out of this.

1. What is a Non-PO Invoice & Why do we need to issue an Non-PO Invoice? Also let me know what is the process we have to follow after receiving the same.

2. What are discrepancies on the bases of which an Invoice may be rejected? Or Normally why an invoice is rejected?

3. What is controlling unit to prevent these dicrepancies & what to do if we come up to any discrepancies in invoice?

Thanking you all.

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V P Narasimhan (Accounts Manager) (791 Points)
Replied 20 May 2014

Dear

The advantages of PO-Invoice - Helps to monitor Stocks which in turns depends on P O. (both the ends) Certain Companies the processing of Payment can't be made/generated without P O. In some cases certain companies willnot entertain any business transaction without P O. Even some regularisation will also be adopted even after making shipment. Tracking of Part shipment wherein P O is necessary to find out the backlog i.e balance item due for supply.If P O is avaliable its an authenticated document for Auditing even in case for Fixed Asset. It willbe helpful for Sales Tax Dept & for own use to track the Price element with previius Order.

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