How to do Price Adjustment for PO issued?

Question

Dear experts,
My user has already issued one PO with the unit price of $770 and also issued the GRPO under the price of $770. After that, the vendor said the actual unit price is $1000. How to do the price adjustment for the wrong unit price issued in the PO?
Kindly share with me. Thanks.
Regards,
Xavier

Answer 1

hi xavier,
GRPO - Goods Return
A/P Invoice - Credit Memo
previously you didn't mention A/P Invoice was already made. if A/P invoice is already made you need A/P Credit Memo to reverse it.
now, since adjustment is already done, is $230 is added to the same A/P Invoice and added to cost (qty * $230) that was base to GRPO? if yes, then your item cost is already corrected in A/P Invoice and also your Payable to your Vendor.
However if the adjustment is done, in other document like JE adjustment then you need to Credit Memo, then GRPO (Not base on PO) with $1000 price then A/P Invoice base on GRPO.
regards,
Fidel