Interested to Buy Any Domain ? << Click Here >> for more details...
What is ERS(Evaluated Receipt Settlement) in Accounts
Payable?
How is it related to 2 way matching?
- 1 Answers
- 10078 Views
- Genpact, Jenpac, I also Faced
- E-Mail Answers
Answer Posted / joginder singh
Evaluated Receipt Settlement (ERS) is a methodology that
eliminates the supplier invoice from the procurement-to-
disbursement process. It is also called auto-payment, and
utilized a two-way rather than a three-way match. It is
most commonly used in the manufacturing industry between
established trading partners. In an ERS transaction, the
supplier issues an advanced shipping notice (ASN) based on
a purchase order or contract from the purchaser, then ships
the goods. The purchaser, upon receipt of the shipment,
confirms it against the purchase order, verifies the items
and quantity and pays the supplier. Fundamentally ERS
determines disbursements based on purchase orders and
receiving information. ...
| Is This Answer Correct ? | 21 Yes | 2 No |
Post New Answer View All Answers
what is the entry for toll gate fee
under the modified cash basis of accounting, most revenues and expenses are recognized on the cash basis. Which one of the following items is an EXCEPTION to this accounting practice? a.Advertising b.Professional Fees. c.Supplies d.Rent
Do you know what is icai?
What is meant by daily accrual and booking?
"A" has two divisions of "B" and "c".In our system we have two vendor accounts of B&C.We have received one Non PO invoice of B and posted wrongly in C and its got paid.While reconciling the account we got this error is happend.We contacted the C and asked for refund.But C said,he transfer internally the amount directly to B and he will not refund the amount.How we will settle this entry in our books. If we reverse the entry...there is one invoice needs to be reverse and payment doc needs to be reverse..how we can settle this in our books...
Key difference between indian accounting standards and international accounting standards is.
How did you chose your university?
what single discount is to2 successive discount of 10%& 15%
Tell us in balance sheet, where do you show tds?
accounting principles, accounting concepts,meaning of managment and financial accounting and cost accounting.
What is Normal Loss? and What is the reason for Debiting such Loss in P&L account and also Crediting in Trading Account? and how the Loss should be accounted?
how go make jaggery sales and purchace bill in tally 7.2,jaggery lumbs comes in different weight not fixxed weight and i want stock in lumbs and bill amount in rupees (exp.lumbs/weight/rate/amount-1000/102.50/2500/256250)
What are the 4 phases accounting?
Tell us what do you believe should be an important quality of an account executive?
One car company raised an invoice of 30k to its customer, which includes car's price and one year service price of 1600 (cost). They work on 25% margin. How much amount will go to Income statement and B/S?
