What is GR/IR account? Why do you maintain that? Explain the
importance of GR/IR clearing account.
- 19 Answers
- 226268 Views
- IBM, Nipuna, Orica, TE, I also Faced
- E-Mail Answers
Answer Posted / sudharshana vamsi
The offsetting entry for clearing the GR/IR clearing
account is posted to the stock account (provided that there
is sufficient stock coverage for the quantity difference):
• If there is a delivery surplus on the GR/IR
clearing account, the material was debited with too high a
value when the goods receipt was posted. When the GR/IR
clearing account is cleared, the material is credited
accordingly.
• If there is an invoice surplus on the GR/IR
clearing account, the material was debited with too low a
value when the goods receipt was posted. When the GR/IR
clearing account is cleared, the material is debited
accordingly.
If there is insufficient stock coverage for this quantity,
only the portion corresponding to the available stock is
posted to the stock account. The rest is posted to a price
difference account.
For a material subject to standard price control, the
offsetting entry to clear the GR/IR clearing account is
made to a price difference account. Thus, there are no
value changes in the material master record.
| Is This Answer Correct ? | 59 Yes | 27 No |
Post New Answer View All Answers
Hai brothers this is praneeth from khammam. i can complete my sap fico training at 2014. but at that i will not able to get the job with some family reasons. present i want get sap job. i cant remember some topics so any give the training to me interview point of view. present iam not working only prepare for sap. anyone can u pls help me.if u not able to training then can u pls send materiel configuration steps and interview question and answers material. cell no : 9959078088 mail id : pirangi.praneeth@gmail.com.
What do you understand by sap cost center? Explain with the example? : cost center accounting
How do you maintain the number range in production environment?
What is a noted item? : fi- accounts payable
How do you calculate the due date of a document?
What is deffrent Between Company Act and Income Tax Act depriciayion
Explain the various reference methods? : fi- general ledger
What is accrual calculation?
What is a special period?
We have two diffferent bank accounts in our System that is icici bank & citi bank but the vendor wants us to pay him 100000 from two different accounts that is from axis bank and union bank so how we should configure in our sap system so that we can pay to vendor through App.
What is a local currency and parallel currency?
What is depreciation simulation? : fi- asset accounting
Can you dun customers across clients in a single dunning run? : fi- accounts receivable
What is a screen layout? : fi- general ledger master data
During document postings, under what circumstances would sap display the following warning / error message: “calculated rate deviates from document header rate by x%”?
