Foundation Past Papers
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I am due to sit my exam in June and have been doing past papers. If the question asks you to check invoices and credit notes for errors and they supply 1 email or 1 letter format does that imply that there is only 1 invoice with an error. I have just found two errors but only have one email to inform the supplier!
One error is the customer order 6 items but was charged for 12 and the other error is that the settlement discount has not been worked out on the vat. Should I still post this invoice to the ledgers.
One error is the customer order 6 items but was charged for 12 and the other error is that the settlement discount has not been worked out on the vat. Should I still post this invoice to the ledgers.
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Comments
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Re:Foundation Past Papers
Are you positive the e-mail template is to an external customer rather than an internal one i.e. to your supervisor or company accountant?
Yes, you could still post an incorrect invoice to the ledgers - at least in real life as I do - but you might like to create a memo somewhere that it is under dispute and not to be paid as yet. Someone within your organisation would then contact the supplier and arrange for a credit note to be raised for the difference.
Are you quite sure the settlement discount is an error in this instance though since these are often miscalculated (even by one of our biggest national suppliers for years!)? For a very simple recap on settlement discounts, follow;
http://www.bectek.co.uk/learningsuite/sbfmdiploma/module02.html
Regards,
Robert
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Re:Foundation Past Papers
Our supplier invoices have to be signed off before they can be posted. If there are any errors - quantity, calcultion etc - they are not signed off and cannot be processed.
We introduced this rule because, when payments are processed, all staff members know the invoices can be paid.
This works well if the purchase ledger clerk is away without notice and a cheque run is being processed.
Also, suppliers are keener to correct errors if you advise them that the invoice cannot be processed.
Either method is correct - as long as you are confident that checks are in place.0 -
Re:Foundation Past Papers
Damn website - meant to edit, clicked reply and no option to delete!
Robert0 -
Re:Foundation Past Papers
If you navigate back or just go to another web page without hitting 'submit' your new post doesn't register.
I suppose that's a form of self-deletion.
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Re:Foundation Past Papers
Alt + F4 works a treat too :roll: :twisted:0