DEFINE INVOICE DATE VERIFICATION
DEFINE INVOICE DATE CODE

DEFINE INVOICE DATE VERIFICATION

SPRO – Materials Management – Logistics Invoice Verification – Incoming Invoice – Retention We can also set some other configurations based on requirements through the following path Based on retention due date, retention amount can be released to the Vendor through payment transactions. Now we have completed the Invoice process. There we can see two accounting documents generated.īelow accounting document is related to Retention.īelow document is vendor posting accounting document Open the posted Invoice and click on Follow-on documents. We can see a Warning “Retention Amount _ INR as shown in below screen.īelow screen is Accounting entry preview and then Post the Invoice.Ħ. Make sure no error messages are left and click on simulate button. In invoice screen, at Items area we can find Retention in Doc Cry, Retention % columns where we have a provision to edit the retention% (We can restrict edit option by configuration)Įnter Amount & Retention Due Date fields and click enter. As the Purchase Order is consisting of Retention percent, a pop up window appears showing information that the document is relevant to retention as shown in below screen. Fill the required details like Invoice Date, posting Date, Purchase Order No and click Enter. Here one accounting document is generated as shown in the below screen.ĥ. After filling all the required details like Purchase order No, Date, Quantity, Storage Location, post the document. Here as an example we have considered Purchase Order with Retention Applicable (Item Level), 5% for 1 st item & 10% for 2 nd item as shown in below screens.Īfter filling all the required details in order, Save it.Ĥ. In this option, we can choose different retention percentages for different items as shown in below screens. If we choose Retention Applicable (Item Level) in Header area, then we need to provide retention percent at Item level for all the items individually in Invoice tab. Once we choose Retention Applicable (Header Level) and provide the percentage, same percentage is applicable for all the items in order at Item level in Invoice tab and we cannot change that percent at Item level as shown in below screen. When we choose Retention Applicable (Header Level), beside that a new field appears “Retention” where we maintain retention% as shown in below screen. Here we can select Retention from dropdown either Applicable (Header Level) or Applicable (Item Level).

We can see a tab “ Payment Processing” in Header area. Now we will create a Purchase Order using T-Code ME21N. field as per your requirements as shown in below screenģ.

DEFINE INVOICE DATE CODE

T.Code OMR4 (Path: SPRO – IMG – Materials Management – Logistic Invoice Verification – Incoming Invoice – Number Assignment – Maintain Number Assignments for Accounting Documents)Ĭlick on “ Document Types in Invoice Verification”Ĭhoose Transaction Code MIRO and click on Details Now we need to assign Document Type for retention because when invoice is posted, another accounting document is generated for Retention amount. Once the business function LOG_MMFI_P2P is activated, system opens up certain features, additional tabs and configuration paths related to this process.Ģ. As a first step we need to Activate Business Function LOG_MMFI_P2P through T-Code SFW5 as shown in below screen This retention amount will be released on a specified date that vendor has agreed with respect to the fulfillment of all the obligations by the vendor from the performance.ġ. This is generally done to ensure that a vendor perform all obligations under the terms and conditions. Retention concept is used to retain (hold) some percent of amount from the amount due to the vendors. One should have basic knowledge on creation of Purchase Order, MIGO & MIRO transactions for a better understanding of this concept. The purpose of this blog post is to have a clear understanding of Retention concept, its process flow in SAP and configurations required. I have over 10 years of experience in Manufacturing, Construction and Oil & Gas refinery industries.

Define invoice date