Brief about g/r I/r clearing. Can’t v avoid this a/c? Process?

Brief about g/r I/r clearing. Can’t v avoid this a/c?
Process?

Question Posted / t.v.s

4 Answers
13623 Views
Accenture, TCS, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

Brief about g/r I/r clearing. Can’t v avoid this a/c? Process? ..

Answer / gaurav raheja

Quantity differences between goods receipt and invoice
receipt for a purchase order result in a balance on the
GR/IR clearing account.

If the quantity invoiced is larger than the quantity
received, the system then expects further goods receipts
for this purchase order to clear the balance.
If the quantity received is larger than the quantity
invoiced, the system then expects further invoices for this
purchase order to clear the balance.
If no more goods or invoices are to be received, you must
clear the balance manually.

This can be done in different ways:

You can return the extra goods to the vendor
You can cancel the invoice.
You can clear the GR/IR clearing account manually.

Is This Answer Correct ?

20 Yes

1 No

Brief about g/r I/r clearing. Can’t v avoid this a/c? Process? ..

Answer / sanki

Gr/Ir clearing account is a interim account.
It is used in FI-MM integration.
GR/IR will be an open item account till the invoice is received.
GR/IR account should be a auto-posting account.

During Goods receipt (MIGO) Inventory Account will be debited and GR/IR
clearing account will be credited.
During Invoice Receipt (MIRO) Vendor Account will be credited and debits the
GR/IR clearing account.

Is This Answer Correct ?

6 Yes

0 No

Brief about g/r I/r clearing. Can’t v avoid this a/c? Process? ..

Answer / anant maheshwari

Hi

We can avoid this process but not advisable. You can do
Miro without GR BASE Option to set Option in Miro. Some
Companies do the Miro without G/R in Import Case.

Normal Case dont advisable bcuz MIRO Qty may exceed than
P.O.

Regards

Is This Answer Correct ?

1 Yes

0 No

Brief about g/r I/r clearing. Can’t v avoid this a/c? Process? ..

Answer / ram

absolutely perfect and lovely answer gaurav

Is This Answer Correct ?

0 Yes

5 No

Post New Answer

More SAP FI-CO (Financial Accounting & Controlling) Interview Questions

explain any 2 business process e.g: payment

1 Answers Accenture, Tech Mahindra,

What is a standard hierarchy? : co- cost center accounting

0 Answers

May i know the exact difference between Sub Ledger and General Ledger

1 Answers

Will a customer get support when recompiling the linux kernel or using 3rd-party software that modifies it?

0 Answers

i have one doubt if we have pay to many vendor's..with using different house banks&different amounts..! my question is we need to update each bank for vendor's and amounts wise..i mean updating in master records..? or not?..please give a detailed answer..plase sir's.

1 Answers IBM,

Hi all...i have a question regarding search tcode in IMG screen(i.e.consultant screen). What is the search tcode for IMG screen to view a particular path (i.e. end user tcode search_sap_menu).

3 Answers

In-house Cash functionality allows â€œConsolidate the request and make payment on behalf of subsidiaries. â€œ Can some one help me understand how this is different from Sending Company code and Paying company code concept?

1 Answers

Hi Can any one Forward to my mail ID nag.sai1983@gmail.com As to what is the procedure for accounting the Bad Debts A/C

2 Answers

What is sub ledger? How is it linked to GL?

9 Answers

What is a (tax) jurisdiction code?

0 Answers

What is known as a depreciation run in sap? : fi- asset accounting

0 Answers

name three distinct characteristics of fi-gl? : fi- general ledger

0 Answers

For more SAP FI-CO (Financial Accounting & Controlling) Interview Questions Click Here