What is 'incoming invoice' in SAP MM-IV - Invoice Verification?

incoming invoice - Overview

• Component: MM-IV

• Component Name: Invoice Verification

• Description: A statement presented by an invoicing party indicating the sums due in respect of previous purchase transactions. In the SAP system, the term "incoming invoice" technically covers both invoices and credit memos received.

incoming invoice - Details

• 
  Key Concepts: 
  Incoming invoice is a term used in SAP's Materials Management (MM) Invoice Verification (IV) component. It refers to an invoice that is received from a vendor and needs to be verified for accuracy and completeness before it can be processed. The invoice must be checked against the purchase order and goods receipt to ensure that the vendor has provided the correct goods and services at the agreed upon price. 
  
  How to use it: 
  In SAP, incoming invoices are entered into the system using the Invoice Verification (IV) component. The invoice is first entered into the system with all relevant information such as vendor, purchase order, goods receipt, etc. Once the invoice is entered, it can be verified against the purchase order and goods receipt to ensure accuracy and completeness. If any discrepancies are found, they must be corrected before the invoice can be processed. 
  
  Tips & Tricks: 
  When entering an incoming invoice into SAP, it is important to double-check all information for accuracy. This includes verifying that all items on the invoice match those on the purchase order and goods receipt. Additionally, it is important to check that all prices are correct and that any discounts or taxes have been applied correctly. 
  
  Related Information: 
  For more information on SAP's Materials Management (MM) Invoice Verification (IV) component, please refer to SAP's official documentation at