Reflecting credit note to the stock

Dear MM Gurus,
we have a requirement as below.
We will create a PO and do GR and IR. Later after some time if the material crossed expiry date, the vendor will replace the same with free of cost. Some times if he cannot replace , he'll give credit note and our FI people will deduct the amount from his pending bills. But the same will not get reflected on the stock. system will still show the stock.
can you suggest me the best solution. Either to scrap the existing qty or process through returns PO or any other process.
Satish

Hi
If the stock is replaced
1) Perform MB1B 541 to issue the expired stock to the vendor
2) Perform MB1B 542 to recieve the New Stock
If Credit note is recieved without stock replacement
1) Perform MIRO Subsequent Debit for the expired quantity
Accounting entry would be
Vendor Account Dr
Stock Acc Cr
Regards
Sandeep

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