Before you begin learning about Adjustment, tax and expense details, you need to know that the GRN screen will show two payable fields:
Invoice Amount: This field shows the cost incurred on stock and payable to the vendor. All adjustments and applied tax will be reflected here.
Amount: This field shows the total expense incurred by the retailer/wholesaler for a particular stock entry/delivery. This includes expenses like freight or other miscellaneous expense.
Adjustment Amount
Sometimes you may have to make adjustment to the total amount of the GRN by either adding or subtracting amount from it. Adj. Amount is the adjustment made to the GRN to either increase or decrease the invoice amount.
Let’s see how this is done.
- On the GRN screen, select supplier
- Load products received from the supplier
- Click the Adjustment, Expense and Tax section of the GRN screen
- If the supplier gives you discount on the total payable amount, add it with the negative sign in the Adjustment Amount field
- The adjustment will be deducted from the Total Amount
- Similarly, if some amount needs to be added to the total amount, simply enter the amount in Adjustment Amount field. The Total Amount payable to the vendor will increase by that amount
Checking item wise Adjustment Discount
If you want to check individual item’s post-discount value after adjustment, you can do so. This is how:
Enter discount amount and click green arrow icon (in this case you don’t have to enter the amount with the negative sign).
Then click the (+) next to the Item name.
From here we can see the total discount and the discount percentage that is given to each item in our GRN item list in the fields of Discount% and Total Discount respectively. One item details can be viewed at a time.
Note: Adjustment amount is entered before entering sales Tax.
Entering Expenses
All expenses incurred during stock delivery are added on the GRN to keep track of the total expense for each stock delivery. Since discounts by suppliers are given on the product cost, these expenses are added after you have made all discount adjustments and entered tax details.
Expenses are added to Total Amount meaning Total Amount= stock invoice amount + expenses.
Entering Tax Details
Purchase Tax that is paid to the vendor on the supplies delivered. Tax in percentage is added Purchase Tax % field.
The grid will show item details of post tax value of products.
Checking Item Wise Details of all Discounts and Tax Applied
To view these details click on the (+) column next to the Item name. Expanding this section will now show details of all item wise discount and tax percentage and amounts.
