Evaluated Receipt Settlement (ERS) allows you to settle goods receipts without receiving an invoice.

Based on the order price specified in the purchase order and the quantity entered on the goods receipt, the system can determine the correct invoice amount. The system also obtains tax information and terms of payment from the purchase order. This information allows the system to settle without having to process a vendor invoice.

The Evaluated Receipt Settlement (ERS) function has the following advantages:

• Reduction of steps involved in the purchasing/receipt/invoice/payment cycle
• Reduction of clerical errors
• Elimination of price and quantity variances in the Invoice Verification process

The system maintains a log of ERS transactions. This log can be printed out and sent to the vendor as an indication of settlement.