hello madduri. it depends on the terms agreed with the supplier and how good your relationship is with them. also the volume of business done with them is an important factor. if you are their valued customer (in the sense that you are credible and make payments on time) and your orders are in bulk then the supplier will be generous with you.

But if the opposite is true the supplier may charge a penalty. it all depends on the written terms and length & quality of relationship with them.

if supplier does charge such a penalty you can create a penalties & charges ledger in indirect expenses and pass an entry for it.

hope this helps. let me know if you need further detail.