hI what 's mean by ERS ? will u help me ?
ERS means
satheeshkumar (Assistant) (35 Points)
13 June 2010
1 Replies
* Krishna *
(CA Student)
(6149 Points)
Replied 13 June 2010
If it is with regard to accountancy, ERS stands for Evaluated Receipts Settlement.
ERS is most commonly used in the manufacturing industry between established trading partners.
Example: In an ERS transaction, the supplier issues an advanced shipping notice (ASN) based on a purchase order or contract from the purchaser, then ships the goods. The purchaser, upon receipt of the shipment, confirms it against the purchase order, verifies the items and quantity and pays the supplier.
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