What is ERS(Evaluated Receipt Settlement) in Accounts
Payable?
How is it related to 2 way matching?
- 1 Answers
- 10249 Views
- Genpact, Jenpac, I also Faced
- E-Mail Answers
Answer / 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 |
I had this interview in 09. The interviewer kept on asking this question. Why do you want to join JP Morgan chase? can any1 give me a good answer...???
2 Answers IBM, JPMorgan Chase,
Tell me what is the difference between accumulated depreciation and depreciation expense?
What is the Meaning of Value Date in Bank Statement ?
Why do you prepare a Trial Balance?
What is the meaing of holding Holding company?Give one example?
Wat entry ill come after paying the Cen -Excise Tax Vat Tax and Service Tax in the same time
what is capital expenditure
Tell me what steps would you take to increase revenue for this company?
Calculate the total Depreciation for four or five Years so give example?
What will be the journal entries in case of tax collevted at source.
what is use of cost category ? which type is useful in accounting work ? give answer with solid example because iam slow learner in accounting line.
Mention your extra-curricular interests. Which do you actively pursue? How do you see these developing in the future?
Audit 
