Invoice liability

1

Cam sombody tell me when should a liability be created?
I mean when should an Invoice be posted in ledger?? below are ther conditions;

  1. After receiving the bill?
  2. After receiving sales tax invoice?
  3. After receiving GRN?

Would sombody help me in this, It would be higly appreciated.

2

It sounds like you are referring to receiving a sales invoice from a supplier. This is entered in your business records as a purchase invoice. Read this Guide: Manager Cloud.

And what is GRN? (Remember, Manager is used all over the world, and your acronyms don’t necessarily mean anything to others.)

3

GRN = Goods received note.

4

For information on goods receipts in Manager, see this Guide: Manager Cloud. In Manager, however, a goods receipt is not something you receive, it is a transaction you generate yourself. If you are being sent something by a supplier to indicate delivery, that would correspond to the supplier’s delivery note.

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