Answer / pramod

it is a intreem a/c which provides for our liblities,its
showes that weather goods/invoice has been received for
relevant purshase order item.

most imp it is perform the three way checking

Answer / praveen

The abbreviation Dr. and Cr. are not for Debtor and Creditor
resp. but it is the abbreviation of "Debere = Dr." and
"Credere = Cr." which represents Debit and credit
transaction/ accounting entry.

Answer / marty

A GR/IR account is a clearing account that is used to clear
accounting entries that occur when the area has chosen to
set up a purchase order in SAP with a valuated goods receipt
requirement.

The clearing account usually nets to $0 when the goods
receipt total quantity matches the invoice receipt total
quantity, although, we have seen some exceptions to this
occur. (Exceptions usually occur when the GR-based IV flag
is checked or the cost object has been changed.) However,
when the the total quantities match, even if there are price
blocked issues, the account will clear and often record a
variance through the IR if the goods receipt was completed
first. If the IR was completed prior to the goods receipt,
the goods receipt will take on the value of the IR for the
quantity invoiced. Through this normal clearing process the
open items of this account will be closed.

If the normal clearing process does not occur then the
remaining open items should be reviewed by an experienced
member of the staff to determine what is needed to close the
item. There may be a GR surplus or an IR surplus.

The reason that it is important to review and reconcile
these open items is GR surplus items could mean that there
are over recorded expenses that cause an inflated inventory
value or incorrect over expense to a consumption account.
This often occurs due to processing a goods receipt for
items that were not physically received. It also occurs
when a department is not completing the goods movement when
returning product to the vendor, etc.

The IR Surplus items often are due to orders that are
missing goods receipts and other reasons that create
blocked. In general, these items receive more attention
because of the blocking condition that prevents the vendor
from being paid.

Left unchecked, you generally will end up with a big bucket
of over recorded expenses / money that you don't even know
that you have that could be used elsewhere.

There needs to be an effective statement review process in
place and/or contact with the vendors. Items can be cleared
by processing additional GR or IR transactions. There also
are clearing transactions such as account maintenance that
can be processed that will clear the GR/IR account. Access
to the "ACCM" transaction should be very limited. It may be
necessary to create a custom report to better manage this
clearing account.

Answer / sameer

GR/IR clearing a/c.
GR means Good Receipt and IR means Invoice Receipt.
GR/IR clearing a/c is temporary a/c created to matched time difference between goods received and Invoice received.
i.e.1} Goods received of Rs 1000 on 1st January but Invoice not received. Entry Will be :
Material A/c Dr. 1000
To GR/IR clearing a/c. 1000
2} Invoice received of Rs 1000 on 3rd January. Entry will be
Gr/IR clearing a/c dr 1000
To Vendor A/c 1000

3} Payment to Vendor. Entry will be
vendor A/c Dr 1000
To Bank a/c. 1000

Answer / guest

GR/ IR is a control a/c

Answer / kanishka weliwita

GR/IR account very import for the company. as below
1. stock controlling/
2. Verification on Payment
3. Controlling of perches
4. Support to Proper financial Information
5. Minimize manual account entry for the management accounts

Answer / rajakumara hg

Inventory a/c Dr
GRIR a/c cr

GRIR a/c Dr
Vendor a/c cr

vendor a/c Dr
Bank a/c cr

Answer / rajashekhar

above ans are given in a different views, can any one give
full view of these Gr/ir account.

Thanks & Regards
N.Rajashekhar

Answer / malick sigue

Clearly GR/IR is a buffer like ACCOUNT between Payables for
goods AND Inventory set and configured for clearence function.
GOOD ANSWERS -- THANKS

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