3 Replies Latest reply: Feb 19, 2009 5:29 AM by anish thangachan RSS

Accounts in Invoice Verification

Kapil Singhvi
Currently Being Moderated

What are the various accounts used in Invoice Verification

 

Regards

 

Kapil

  • Re: Accounts in Invoice Verification
    Ravi Sankar Venna
    Currently Being Moderated

    Hello,

     

    In SAP it is a 3 way match. The simple Accounting Entries are:

     

    At the time of PO - No Accounting Entries will be created.

     

    At the time of good receipt

    ===================

     

    Stock A/c Dr

    To GRIR Account

     

    At the time of Invoice Receipt

    =====================

     

    GRIR Account Dr.

      To Vendor Account

     

    Regards,

     

    Ravi

  • Re: Accounts in Invoice Verification
    Sanil Kailash Bhandari
    Currently Being Moderated

    hi

     

     

    Vendor Account

    There is a separate account in the sub-ledger for each vendor that all amounts concerning this vendor are posted to. Making a posting to the vendor account is not the same as making a payment; payment is only made when the Financial Accounting department posts the vendor's payment to a bank account.

     

    Stock Account

    In the ERP system, there is no separate account for each material. Instead, different materials with similar features are grouped together in a common account (for example, raw materials: acids). The account relevant for a material is defined in the material master record when a material is created.

     

    The system only posts to the stock account when a price difference occurs for an invoice.

     

    GR/IR Clearing Accounts

    The GR/IR clearing account is an u201Cintermediateu201D account between the stock account and the vendor account. At goods receipt, the net invoice amount expected is posted to the stock account. The offsetting entry is posted to the GR/IR clearing account. This posting is then cleared by an offsetting entry on the vendor account at invoice receipt.

     

     

    Tax Accounts

    The system makes postings to special tax accounts when invoices include tax.

     

    Price Differences Accounts

    Price differences have to be posted to a price differences account if price differences have occurred in an invoice and when invoices are posted net and no posting can be made to the stock account.

     

    Cash Discount Clearing Account

    When you post an invoice net, the cash discount amount is taken into account in the invoice, it reduces the value of the items; the offsetting posting is made to the cash discount clearing account, which is then cleared when payment is made.

     

    Freight Clearing Account

    The stock account is debited with the planned delivery costs at goods receipt and the system makes the offsetting posting to a freight clearing account. This posting is then cleared by an offsetting entry to the vendor account at invoice receipt.

     

     

    Thanks & regards

     

    Sanil K Bhandari

  • Re: Accounts in Invoice Verification
    anish thangachan
    Currently Being Moderated

    HI,

     

    In SAP it is a 3 way match. :

     

    1) At the time of PO .

    2)At the time of good receipt

    3)At the time of Invoice Receipt

     

    The entries are -

     

    First case - No entry

    Second case-

     

    Stock A/c Dr

    To GRIR Account

     

    Third case -

     

    GRIR Account Dr.

    To Vendor Account

     

    Regards,

    APT

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