What is GR/IR account? Why do you maintain that? Explain the
importance of GR/IR clearing account.
- 19 Answers
- 226300 Views
- IBM, Nipuna, Orica, TE, I also Faced
- E-Mail Answers
Answer Posted / guest
Hi,
The GR/IR – the goods receipt/Invoice Receipt account is
used to post to whenever goods that are not yet invoiced
have been received or when invoices arrive before the
delivery of goods.
During the time between the invoice being created and
delivery of goods, there can be a timing difference, in
order to accommodate this timing difference, a GR/IR account
is maintained temporarily to record the flow .
The GR/IR clearing account is usually cleared at the end of
a period or fiscal year for those order items that no
further goods receipts or invoices are expected for.
Choose Logistics- Materials Management - Logistics Invoice
Verification - GR/IR Account Maintenance -Maintain GR/IR
Clearing Account.
Enter data as required on this screen in the Document header
data frame.
The Automatic clearance function is intended for processing
in the background.
the individual purchase order items that have quantity
variances and match your selection are now listed.
Select the order items that you want to clear.
Clear the GR/IR clearing account for the selected purchase
orders by choosing List - Post clearing.
The offsetting entry to clear the GR/IR account is the same
as the posting made when you enter an invoice for a purchase
order.
The GR/IR account is cleared against the stock account,
unless no stock coverage exists. If the material stock is
smaller than the quantity to be cleared, only the actual
stock quantity is debited or credited proportionally. The
remaining amount is posted to a price difference account.
The offsetting entry is posted to a price difference account.
The offsetting entry is made to the cost or fixed asset
account shown in the account assignments in the purchase order.
Thank You.
| Is This Answer Correct ? | 109 Yes | 11 No |
Post New Answer View All Answers
What is the new fi-gl in fi in ecc? : fi- general ledger accounting
What is pre-closing? : fi- general ledger accounting
What are the different standard reports in sap co system? : cost center accounting
Explain the purpose of the account type field in the gl master record?
How do you calculate accrued costs? : co- cost center accounting
Pls help me in Auditing (SAP). I found a big amount in Exchange rate diference a/c, How I can Audit Exchange rate Difference,,, Which area I have care to find the fault?
What is dunning in sap? : fi- accounts receivable
Overview of G/L account :- Dear, what type of G/L account use in SAP.How to see all type of G/L account in sap those are used in a organization
What are the basic steps to using the fi module?
Explain real scenario your faced in the implimentation project?
Difference between depreciation ,accumulated depreciation and apc?
Tell me some important tickets in fico?
what is the use of primary cost component split in PC? How would you calculate the overheads per qty without using costing sheet?
What documents result from procurement processes? : fi- accounts payable
Can you post an account document if the credit is not equal to the debit?
