The receipt was completed for full quantity on PO line.Qty- 10. Unit price 300.
The invoice has been posted for a quantity of 1 against a receipted quantity of 10, as such instead of buying 1 for 300 we would appear to have bought 10 for 300.
We have matched the invoice incorrectly and then tried to correct by un-receipting further exacerbating the issue.
We have understated P&L cost and the GRNI value on the balance sheet.
Now what we are supposed to do to fix it? Do we need to do something with the Vendor posting profile to fix the imbalance between Accrual purchase and trial balance (like using charges to adjust) or we need to do purchase return on Invoice?
Any help would be appreciated.
Thank You