what should be my accounting entry in procurement
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What should be my accounting entry in procurement?
For Domestic Procurement of Raw Material
During GR
Material Stock Dr.
GR/IR clearing Cr.
During Excise Invoice Credit
Cenvat Account Dr.
Cenvat Clearing Cr.
During Invoice Verification
Cenvat Clearing Dr.
GR/IR Clearing Dr.
Vendor Payable Cr.
For Domestic procurement of Capital Goods
During GR
Material Stock Dr.
GR/IR clearing Cr.
During Excise Invoice Credit
Cenvat Account Dr. (50%)
Cenvat On-hold Dr. (50%)
Cenvat Clearing Cr.
During Invoice Verification
Cenvat Clearing Dr.
GR/IR Clearing Dr.
Vendor Payable Cr
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Subsequent of Capital Goods
Cenvat Account Dr. (50%)
Cenvat On-hold Cr. (50%)
For Import Procurement of Raw Material
During Customs Duty Clearing invoice
Custom Clearing Dr.
Custom Payable Cr.
During GR
Material Stock Dr.
GR/IR clearing Cr.
During Excise Invoice Credit
Cenvat Account Dr.
Custom Clearing Cr.
During Invoice Verification
GR/IR Clearing Dr.
Vendor Payable Cr.
For Excise Duty Credit of Raw Material without PO
Cenvat Account Dr.
Cenvat Clearing Cr.
For Excise Duty Reversal through Excise JV
Cenvat Clearing Dr.
Cenvat Account Cr.
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What should be my accounting entry when the goods are issued through MM and excise invoice is
created (J1IS & J1IV)?
During Excise Invoice Creation
Cenvat Suspense Account Dr.
Cenvat payable Cr.
For TR6C Challan
PLA Account Dr.
PLA on hold Account Cr.
During Fortnightly Utilization
Cenvat payable Dr.
Cenvat Account Cr.
PLA Account Cr.
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Note: Cenvat Suspense Account should be cleared appropriately using FI JV's.
What should be my accounting entry in subcontracting reversal / Recredit?
For Subcontracting Challan Reversal
Cenvat Reversal Dr.
Cenvat Account Cr.
For Subcontracting Challan Recredit
Cenvat Account Dr.
Cenvat Reversal Cr.
What should be my accounting entry in SD ?
For Factory Sale
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During Billing Document
Customer Account Dr.
Sales Account Cr.
Cenvat Suspense Account Cr.
During Excise Invoice Creation
Cenvat Suspense Account Dr.
Cenvat payable Cr.
For TR6C Challan
PLA Account Dr.
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PLA on hold Account Cr.
During Fortnightly Utilization
Cenvat payable Dr.
Cenvat Account Cr.
PLA Account Cr.
For Stock Transfer through SD
No Accounting entries for Performa Billing Document
During Excise Invoice Creation
Cenvat Suspense Account Dr.
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Cenvat payable Cr.
For TR6C Challan
PLA Account Dr.
PLA on hold Account Cr.
During Fortnightly Utilization
Cenvat payable Dr.
Cenvat Account Cr.
PLA Account Cr.
Note: Cenvat Suspense Account should be cleared appropriately using FI JV's.
Posted by SAP 1 comments
Accounting Entries related to MM transactions...
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Labels: SAP FI, SAP FICO, SAP MM
Initial stock entry:
Movement type - 561(Receipt per initial entry of stock balances into unrestricted-use)
TCODE - MB1C
FI Document Type - WA
89
Raw material
BSX
S
91
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Initial Stock entry
GBB
BSA
H
Physical inventory differences:
Movement type 702 (Goods Issue Physical Inventory difference) this is triggered because of the
movement type 102, which is given while calculating the difference INV: for expenditure/income from
inventory differences
TCODE - MI07 (MI01 & MI04)
FI Document Type - WI
81
Inventory differences G/L
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GBB
INV
S
99
Raw material
BSX
H
Goods Issue to Production Order:
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Movement type - 261 (Consumption for order from warehouse) VBR: for internal goods issues (for
example, for cost center)
TCODE - MB1A
FI Document Type - WA: Goods Issue
81
Raw material Consumption
GBB
VBR
S
99
Raw material
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BSX
H
In case Movement type given is 201(Consumption for cost center from warehouse), at the time of MB1A
system asks for the COST CENTER & GENERAL LEDGER. Here, the account determination happens
directly from MB1A and not from the OBYC. Accounting entry will be same as above except the 'Raw
material Consumption'; it triggers whatever the GL given.
Goods Issue / Delivery: SD
Movement type - 601 (Customer delivery) VAX: for goods issues for sales orders without account
assignment object (the account is not a cost element)
TCODE - VL02
FI Document Type - WL: Goods Issue/Delivery
81
Mater. consumed/trading goods without cost element COGS
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GBB
VAX
S
99
Finished Goods
BSX
H
Goods Receipt: FG PP
Movement type - 101 (Goods Receipt) GBB-AUF: for goods receipts for orders (without account
assignment) and for order settlement if AUA is not maintained
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TCODE - MB31 Goods Receipt for Production Order
FI Document Type - WE: Goods Receipt
89
Finished Goods
BSX
S
91
Inventory change
factory output COGP
GBB
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AUF
H
Goods Receipt: RM MM
Movement type - 101 (Goods Receipt)
TCODE - MIGO Goods Receipt for Purchase Order
FI Document Type - WE: Goods Receipt
89
Raw Material
BSX
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S
96
GR / IR Clearing account
WRX
H
Invoice Receipt: RM MM
Movement type - 101 (Goods Receipt)
TCODE - MIGO Goods Receipt for Purchase Order
FI Document Type - WE: Goods Receipt
86
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GR / IR Clearing account
WRX
S
31
Vendor account
KBS
H
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KBS is without any account determination and posting keys are 81 & 91. It triggers when there is no
material is assigned in the PO at that time.
WRX In case of any posting required without material, account determination should be without
valuation class.
If price changed at the time of IR, then based on the difference in the material price system posts
amounts to particular material account and not to the price difference account (this is related to the
materials with price control V).
Material Valuation: MM
Movement type -
TCODE - MR22 Dr/Cr Material material valuation (below given calculation) & MR21: Price Change
(Difference amount posts to the material account and calculation is ((New price Old price) * Quantity)
FI Document Type - PR: Price change
Below entry in case of price increase
89
Raw material
BSX
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S
93
Material Valuation
UMB
H
Calculation - {Current Stock Value + (Amount given in MR22 / Quantity given in MR22 * Cr. Quantity)}
Billing Document: SD
TCODE - VF01 Billing - VF11 Cancel Billing
FI Document Type - RV: Billing document transfer - RW: Reversal of billing
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01
Customer account
BSX
S
50
Sales Revenue account
UMB
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H
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