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Customer excise invoice

former_member596992
Participant
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Dear Experts

Can Any body please tell me what is the accounting entry of excise invoice accounting document?

Thanks in Advance

Accepted Solutions (1)

Accepted Solutions (1)

pankaj_pandey2
Active Contributor
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Dear Tamal

Its a basic query you can get a lot of link for this.

The entries generated for excise invoice/challan

Excise clearing account Dr            12.36

Excice duty BED payable Cr           12

Excise Duty Cess Payable Cr          .24

Excise Duty Hcess Payable Cr        .12

Hope it will helpful for you.

Regards

Pankaj Pandey

former_member596992
Participant
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Thanks Mr Pankaj

Please tell me under which account group I should create Excise clearing account.

Thanks in advance.

pankaj_pandey2
Active Contributor
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Current liability- Clearing account

Regards

Pankaj

former_member596992
Participant
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Dear Pankaj

Can you plz tell me how to maintain "Excise clearing account" in " specify g/l accounts per excise transaction" that the accounting entry will be same as you mention above?

Thanks in Advance.

Answers (1)

Answers (1)

former_member209066
Active Contributor
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Hi,

Itemwise Excise Duty Calculated by GL Account(Bed,Cess,Hcess)

Thanks,

Nithi

former_member209066
Active Contributor
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Hi Tamal,

You need to create a Outgoing Excise clearing account under the Liablity group under current liablity. The Linking of this account is based in the type of accounting you specify at the item master data (i.e) based on the Item Level or Item Group or Warehouse.

You need to give the Clearing account at item level or itemgroup or warehouse accordingly.

The same is also applicable for the incoming excise clearing account.