Accounts in Invoice Verification

[Former Member]

What are the various accounts used in Invoice Verification

Regards

Kapil

[former_member182098 · Accepted solution]

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

[Former Member]

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

[Former Member]

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