What is ERS(Evaluated Receipt Settlement) in Accounts
Payable?
How is it related to 2 way matching?
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
How is the accounting for hire purchase transactions done?
how to calculate accrued interest on fdr?how to see from bank statement????basic procedure plz advice..
What are document required by the bank to make payment for debit memo (Import). if we have allready made payment for orignal bill.
I'am accountant working in a trading concern. I wish to become an accountant in a manufacturing/construction company.are there any books available in the market from which I can get an Idea as to how accounts are prepared and maintained for a manufacturing/construction company.
Key difference between indian accounting standards and international accounting standards is.
Revenue Expenditure
what is journal entries for Vehicle loan settled with bank after Sale of the vehicle on profit or loss in case the party paid check direct to Bank .......???
how to we pass a purchase entry in item invoice mode where some advance has been paid to the party. the purchase entry should get offset with the advance payment entry so that it does not appear in the bill outstanding or bills due list. please guide.thank you
Describe me accounting rules
How to show Airticket Expense on Company's A/c as Company expense
India me ,suppose that hmare pass 190000 Rs hai,to kitna tax lgega,or kis heshab se lgega,
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
1. Why do wish to study in canada in the program for which you have been accepted? 2. What is your overall education goal? 3. Why are you pursuing a similar program in your country of residence/citizenship? 4. What research have you done into studies in your country of residence/citizenship? 5. How will this program enchance your employment opportunities in your country of residence? please send me all possible answer i hope your answer will help me a lot...
what are voucher entries for EPF treatment in tally
What is the journal entry of building rent and TDs payment?