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Sample vendor invoice pdf for Finance

[Music] so the pending invoice can also be posted uh by linking it to a PO so let's do that so let's post another pending invoice so uh create a pending invoice for that particular vendor and uh ah sorry I'm not going to add line manually in this case I can just go and uh look for the PO number so um I believe I had a PO I think it's the last one that PO yeah that looks good so that po so I can just select the PO and that's the line in the PO so just say okay and do not correspond let me just go and uh make sure I have a PO which is in the received status maybe I picked some other po which is already invoiced or something let me pick this PO it is receiv received and against this particular po uh there is also a product receipt which is found as this one so that looks good so let me uh just copy that PO number and go back to our purchase order and try to um look for that particular po here apply that's the PO just say okay and the line will automatically come so that PO had only one line and that's the the the the purchase price and all so we have received it now let us try to put a invoice number and in this case you see that the PO number is selected and it's grade out let's say that you have incorrectly tagged a p and you want to change it then you can just always go back to that particular area in the system and you might need to manually try to go until the end and find the PO which is which is marked incorrectly let's say this PO incorrectly it's just untick it and then select the right Po and tick it and that way you will be marked with the right po here again um so yeah so the the the line is here and uh the PO is here so this is another way that you are now uh linking a PO with uh pending vendor invoice so we can even um do a pending vendor invoice with a PO Link in the previous example we did it without a PO link but we can also do it with a PO link again when I'm doing with a PO link let's see what happens um let us post this again this will be disappearing from the pending invoice and it will be going to the um open vendor invoice section so let's just find the PO uh should be at the end end of this list probably the last one invoice 31 that one is our invoice so if I go to this particular list and try to find the voucher uh yeah the voucher looks complicated or big because we've already discuss this voucher in detail but just a quick uh long story short um this actually reverses all of your posting that happened during the product receipt stage and it posts to the right permanent account meaning Whenever there is a product receipt posted we've already seen this all the entries will get posted to a temporary account account and then they get reversed and then they actually get posted to the actual account so that's what is happening there are around bunch of four lines which are posted for the sake of reversal and there are lines like for example this line and this line you don't need to worry about them these are expenditure we will see why they are posted later but in normal cases you won't be probably seeing those lines if you're doing an usmf or DMF non- Indian legal entity but we will see about the expenditure later but just forget about this EXP expenditure and this are the uh purchase uh they all get knocked off you know positive posit negative positive negative these are all getting reversed uh from the these two are getting reversed from the product receipt and these are again getting knocked off um this is something which is a temporary invoice account got posted during the product receipt stage and this will be reversed and will be posted in a proper uh account so if if you see the temporary posting which got debited previously during the product receipt gets credited and the actual invoice account get debited so the um the approval which got credited is now debited so the main thing that you need to notice here is only this and this so this is something which is your vendor balance which is getting credited and this is your inventory cost which is getting debited you know these and these are the two transaction that you need need to be mindful of so in the invoice Journal it got posted to the expense account which is it got debited to the expense account credited to the vendor account uh for the uh which the expense came from the offset account in the invoice journal in a case of a pending vendor invoice there was a category involved and from the category we did picked the expense account which is from the posting profile and also it got credited to the vendor again so in this case it's gets debited to the invoice account because there is an actual inventory item involved a stocked item so we might need to increase the inventory cost by posting a debit to the inventory account and a credit is getting posted to the vendor account so only these two are the things which are something which matters to us and everything else is a reversal that's getting posted from the uh purchase order uh product receipt posed so to just avoid this confusion let us try to um do last po but in this time I wanted to show you that every time you are creating a PO when you're trying to invoice it actually behind the screen what happens is the pending vendor invoice is what is actually getting created okay so we are now try to do the other way around we TR to create a pending vendor invoice and try to link a purchase order right so that's a way it's a backd door entry where we are creating an invoice and try to link a purchase order to that invoice you can even link multiple purchase orders to one particular pending invoice which are of for the same vendor right so which means that we are tying down multiple po into one pending vendor invoice you can try that as a homework if you if you are interested but on the other way we can also just go to the purchase order itself and try to create an invoice basically behind the scene it's going to anyways create that uh pending vendor invoice right so let's try to do that while we are trying to do a purchase order we've already did so many purchase orders so to just show you a variation I'm going to go to the accounts payable module accounts payable parameters and here you have post product receipt in Ledger right so I'm going to just disable them for now okay so just disable them for now and let's try to create a purchase order now so we avoid those temporary postings and system will only show you the final impact of uh invoice Journal so that way it will not confuse you much right so let us see how it works uh but in the real life it is very very important for us to turn on those temporary posting during the product stage you know why because um um when you are receiving the item physically the onand inventory increases and similarly since the stock have physically arrived your Warehouse it's also very very important to post post those arrivals in a form of a in we call it as a physical uh inventory right so post those physical inventory to the financial books as well right so even though it's temporary even though it gets reversed and it gets posted proper to the normal account when during you do the financial inventory meaning when you are doing the invoice but still the physical inventory is very very important because let's say that you received your inventory and then the inventory stock is showing 100 right whereas in a case of uh your Ledger it's showing no balance it's zero right so there is a discrepancy between the physical stock and the financial inventory right because let's say that you're only invoicing you're receiving an invoice after a month and then you're posting your invo so exactly for one month there will be no Financial impact on the financial books so that's the reason why it's very important that you park those estimated revenue or estimated uh sorry not the revenue in this case estimated expense and the liability in some form in a case of in this case it's going to be parked against a temporary account so it's very very important so make sure if you're disabling it do enable it after doing this experiment okay so let us uh let us uh go and create a purchase order and uh uh let us uh use that item oh sorry that item and um let's say th000 and I'm going to confirm it I'm going to quickly do it because we have did it we did this process many many times and I'm also going to product receip it so when we product rece it the vouchers won't be posted because we disabled it let me double check that to make sure whether I've disabled it yes I have disabled it so there is nothing posted here so now let's go to the oh yeah at this stage let's say that I'm creating an invoice basically this is nothing but this is your pending vendor invoice it's coming here right so let's do give some number that's your invoice number which is a part of your vendor invoice it's and that's the line and it also maps to the PO uh I can also add one more po to the list to make it like a Consolidated advoice for multiple poos in this case just one po um just save it and if I go to the uh accounts payable and uh go to the pending vendor invoice I will see the pending invoice here I think the invoice number is 35 yeah that's here right so that's the invoice that you can see in the pending section as well so let's now go ahead and post this invoice okay the invoice is posted and let's check the voucher voucher um only the that's I let me try to transfer it from the subledger Let me refresh it now I will see more lines yeah so compared to our previous uh transaction if you compare it with this we had like 10 bunch of 10 lines because the reversals of the uh product receipt together with this it was more complicated to understand but now it is lot more simpler there is a credit and there is a debit to the inventory account to The Ledger account about the expenditure which gets knocked off we will as I said discuss later so yeah so that is uh something which I wanted to highlight just in case you are disabling the product receipt then it'll be easier for you to understand so um and there is one more last thing maybe I will show you and wind up which is about the uh pending invoic is let's say for example here there is a uh pending invoice um I should have did that before I post the invoice but yeah I will very very quickly show you that um uh maybe I can show you directly from the pending invoice to avoid creating purchase order so whenever you are creating a pending invoice right so let's say that we are creating it for that vendor and let me also just do it for a category in this case cleaning and quantity one and the unit price is let's say 1,000 so whenever you are actually creating uh a pending invoice I've already mentioned that uh whenever the pending invoice is created there is something called as a header for the pending invoice so it's by default it is in the approved status right for some reason let's say that you are just turning off the approval and going back see that the pending invoice is gone and uh it is uh like we might need to add a column um these are some things which I have found through the exploration so just wanted to share that with you um and this is uh the column that is added right so let us say that the approval is no let's try to filter it so then you will find it here um that's the one I believe sorry I need to edit it so that's the one that we have just created um let's say that let me invoice it or let me give a invoice number um and uh let me just double check if they are not approved because um for some reason you know that table is filtered by approved only list so that's why they're not appearing just adding a column as approved and filtering it will will show you this uh this this record and likewise you know when I are trying to post it and it is successfully posted um then if I'm going to the open vendor invoices even in case of a open vendor invoice it actually only shows those which are um which are approved okay okay so uh the invoice I think 35 was a number and I am let me see if yeah I can see it yeah because I enabled I I added the column uh but yeah just be mindful uh it is it's mostly I've noticed that um if the approach switches off this table by default gets filtered by only the record switch are approved and non-approved Records not appear here just in such cases you might need to add a column or try to remove the filter from the table uh but yeah more about uh all this vendor invoice journal and others we will see because there are more ways of vendor invoicing we have seen only the pending vendor invoice invoice journal and from the purchase order and open where their invoices but we haven't seen about the invoice registration from here also I can uh it can create a pending vendor invoice from the invoice pool invoice approval these are all different techniques of creating vendor invoice we will see them one by one in the future videos guys so until then see you in the next video [Music] bye