Objective


Goods receive (MIGO) has been completed with per pc price 0.20 USD and raw material was consumed.  When Bill submitted, after amendment per pc price would be 0.30 USD.

Purpose


Due to raw materials price change, When bill entering (MIRO), residual amount would be adjusted with “Gain/Loss Price/Qty variance” GL.

Purchase order Document



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Please follow the below mention screenshot, goods receive (MIGO) quantity 2000 pc with per pc price 0.20 USD.


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MIRO Document

Please follow the below mention screenshot, invoice quantity 2000 pc with revise unit price 0.30 USD instead of 0.20 USD. As a result, total Invoice amount would be 600 USD. Balance amount offering 400 USD because goods received (MIGO) amount was 400 USD.


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Click the “GL Account” tab for adjustment.

Due to raw materials price change, rest of the amount 200 USD would be charged with “Gain/Loss Price/Qty variance” GL. 


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Update the following required and optional fields:


Field Name

Description

Values

GL Account

Code identifying the General Ledger account

Example: 520500

Amount

Amount of a adjustment

Example: 200

Cost center

Enter the Cost center code

Example : 2000

Tax Code

Mention Tax code

Example: Blank



FI Entry

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