You use a price correction when a supplier sends you an invoice for a change in Unit Price. You can record a price correction when you match a Credit or Standard invoice record to a previously matched purchase order and adjust the invoiced unit price.
Suggestion: We strongly recommend that you use the Invoice Workbench, rather than the Quick Invoices window to enter price corrections in this version of Payables. Entering in the Invoice Workbench allows you to specify more detailed information, so Invoice Validation can properly validate that the price is within the appropriate tolerance.
For more information, see: Price Corrections.
Prerequisite
A purchase order for the same supplier, supplier site, and currency as the invoice record you are entering must be approved and open.
To record a price correction in the Quick Invoices window for a purchase order shipment or distribution:
In the Quick Invoices window, enter the invoice record. If you are recording a price increase, enter a Standard type invoice record. If you are recording a price decrease, enter a Credit type invoice record.
In the Lines region, enter the line information. Enter Item as the line type.
Attention: For purchase order matched lines, do not provide distribution information by entering a Distribution Set or Projects information, or the invoice will not import successfully. Also, do not enable the Prorate Across check box on purchase order matched lines.
For each line you want to match, enter the PO Number. If you are matching to a blanket purchase order, then you must provide values for both Release Number and PO Shipment Number.
Enter values in the relevant fields to match the invoice line to whatever level of detail you want: purchase order line, shipment, or distribution:
PO Line. If you want to match to a purchase order line, enter the PO Line Number. If you don't know the line number and if the line has a unique inventory item or unique item description for the purchase order, then you can match to the line by entering either the Inventory Item ID or the PO Item Description exactly as it appears on the purchase order line.
PO Shipment. If you want to match to a shipment, then enter the PO Lines and PO Shipment Number. If you don't know the shipment number, and if the shipment has a unique Ship-To location for the purchase order, then you can match to the shipment by entering the Ship-To Location exactly as it appears on the shipment.
PO Distribution. If you want to match to a purchase order distribution, enter values for PO Line, PO Shipment, and PO Distribution Number.
Check the Price Correction check box in the Invoice Lines region.
Enter the Unit Price for the incremental amount of the price correction. During import the system provides the value for Quantity Invoiced (Quantity Invoiced x PO Unit Price = Amount).
Save your work. After you create invoices from the invoice records, you can view and modify the distributions created by the match in the Distributions window of the Invoice Workbench.