Supplier & buyer sales amount not same

[yujin kim]

Dear sir

 

We are doing job work for 5years. and we found suppier booked sales amount & our booked sales amount is different.

Suppose we booked 5lakh into Tally system in 2010-11FY as per our tax invoice.

But supplier book less amount (4.5lakh) in their ERP.

I think they deduct some defective material, lost material etc.

Is this possible for accounting system?

In my knowledge, it cannot be possible.. worried about this.

AI Summary

Invoice reconciliation: require a discrepancy note and debit note for any buyer deductions, with prior agreement enabling allowance.
Discrepancies due to buyer deductions for quantity or quality require a discrepancy note and a debit note from the buyer stating reasons and amounts so the seller can reconcile accounts; deductions are allowable only if previously agreed, and parties should perform periodic (ideally quarterly) account reconciliations to resolve mismatches in job work charges.