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Answer Posted / srini
Scenario is like this, If you have raised a PO for an Item qty 100. For which terms and conditions with vendor says that the delivery will be made in 2 installments and when he sends first installment, he needs full payment for the PO. As per terms you paid total invoice amount to vendor. Now for some reasons you want cancel the rest of items delivery. Now, you have to raise a credit note stating the cancellation of order and request vendor to forward the credit memo. Once you receive credit memo you post it in the system, which will clear GR/IR accounts which was arise during full payment for the PO.
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