What is Consigement stock & which accounting entries are
posted at the time of GR?

Answers were Sorted based on User's Feedback



What is Consigement stock & which accounting entries are posted at the time of GR?..

Answer / anan

At GR there is no account postings...
only when goods are withdrawn for consumption/to own w/h
from consignment w/h account posting happens @ the price
mentioned in consignment info record.

Is This Answer Correct ?    25 Yes 3 No

What is Consigement stock & which accounting entries are posted at the time of GR?..

Answer / venkatesh kumar

At the time of issue

consignment payable A/c Credit
Material Consumption A/C Debit

At the time of settlement

Vendor A/C Credit
Consignment Payables Debit

Is This Answer Correct ?    18 Yes 2 No

What is Consigement stock & which accounting entries are posted at the time of GR?..

Answer / suneel ande

Consignment PO: -
During GR (MIGO)-No FI Entry will be generated during GR

During TP (MIGO)-Transfer to own Stock
(BSX) Stock Account - Dr
(KON-Blank) Consignment Liability A/c - Cr

During GI (MIGO)-GI from Consignment Stock
(GBB-VBR) Consumption Account - Dr
(KON-Blank) Consignment Liability A/c - Cr

During IR (MRKO)
Consignment Liability A/c - Dr
Vendor Account - Cr

Is This Answer Correct ?    9 Yes 0 No

What is Consigement stock & which accounting entries are posted at the time of GR?..

Answer / mithun

After GR no accounting document will trigger only material document will trigger and we can own consignment stock by following two ways

a) mb1b 411 k Transcation event keys:BSX inventory raw mat
KON Account payable
AKO loss /consumption

b)migo goods issue others 201 k
Transcation event keys:GBB rm consumption
KON Account payable
AKO loss /consumption

Is This Answer Correct ?    5 Yes 1 No

What is Consigement stock & which accounting entries are posted at the time of GR?..

Answer / sujan

CONSIGNMENT STOCK:- The stock supplied by the vendor is in
the companies premises with the company having no liability
for the same.The liability for the company will only be
affected when the goods are issued from the consignment
stock to use.
While posting from GR the movement type will be
201-consignment to stock.

Is This Answer Correct ?    17 Yes 16 No

What is Consigement stock & which accounting entries are posted at the time of GR?..

Answer / abhisek pattnayak

No Accounting doc,Only Material document is created,

Is This Answer Correct ?    0 Yes 0 No

What is Consigement stock & which accounting entries are posted at the time of GR?..

Answer / badaripro

hi, sujan answer is correct

Accounting entries at the time of GR :

+ debit :-- Consumption ( cost center ) a/c
- credit:-- Stock a/c ( Inventory get reduces )

Is This Answer Correct ?    5 Yes 20 No

Post New Answer

More SAP MM (Material Management) Interview Questions

while i am saving GR in MIGO, the system is asking that "the control area is not assingned to company code xxx" Please suggest me the answer.

5 Answers  


hi All can someone please suggest me a good instructor or institute with more focus on real time scenarios/projects for SAP MM in Hyderabad I have a experience of over 7 years in Supply Chain and Logistics , looking to build my career in SAP as I have been using SAP for 7 years now Thank you

2 Answers   7-Eleven,


What information does consignment info record contain?

0 Answers  


ERS, What are the prerequisite step for configuration of ERS

4 Answers   HCL,


If there is any specific purchase organization for Stock transport order how do you link with PO? I mean is there any Link b/w PO docuement type and P.org, if its there how?

3 Answers   Cap Gemini,






What is the difference between purchase requisition and purchase order?

0 Answers  


Mention the document types that are used in purchase requisition?

0 Answers  


which is the best institute for sap oil & gas in india ? except BPCL..

0 Answers  


In BoM i mentioned item category as L But when i create po for sub-contracting defaultly it shows T, I dont understant where i done mistake, can you help me please by sadeesh

3 Answers  


For creating a purchasing info record what are the pre-requisites?

0 Answers  


What is the step by step process in MRP

3 Answers   HP, Pesticides,


What are the month end activities in sap mm?

0 Answers  


Categories
  • SAP Basis Interview Questions SAP Basis (1262)
  • SAP ABAP Interview Questions SAP ABAP (3939)
  • SAPScript Interview Questions SAPScript (236)
  • SAP SD (Sales & Distribution) Interview Questions SAP SD (Sales & Distribution) (2716)
  • SAP MM (Material Management) Interview Questions SAP MM (Material Management) (911)
  • SAP QM (Quality Management) Interview Questions SAP QM (Quality Management) (99)
  • SAP PP (Production Planning) Interview Questions SAP PP (Production Planning) (523)
  • SAP PM (Plant Maintenance) Interview Questions SAP PM (Plant Maintenance) (252)
  • SAP PS (Project Systems) Interview Questions SAP PS (Project Systems) (138)
  • SAP FI-CO (Financial Accounting & Controlling) Interview Questions SAP FI-CO (Financial Accounting & Controlling) (2766)
  • SAP HR (Human Resource Management) Interview Questions SAP HR (Human Resource Management) (1180)
  • SAP CRM (Customer Relationship Management) Interview Questions SAP CRM (Customer Relationship Management) (432)
  • SAP SRM (Supplier Relationship Management) Interview Questions SAP SRM (Supplier Relationship Management) (132)
  • SAP APO (Advanced Planner Optimizer) Interview Questions SAP APO (Advanced Planner Optimizer) (92)
  • SAP BW (Business Warehouse) Interview Questions SAP BW (Business Warehouse) (896)
  • SAP Business Workflow Interview Questions SAP Business Workflow (72)
  • SAP Security Interview Questions SAP Security (597)
  • SAP Interfaces Interview Questions SAP Interfaces (74)
  • SAP Netweaver Interview Questions SAP Netweaver (282)
  • SAP ALE IDocs Interview Questions SAP ALE IDocs (163)
  • SAP Business One Interview Questions SAP Business One (110)
  • SAP BO BOBJ (Business Objects) Interview Questions SAP BO BOBJ (Business Objects) (388)
  • SAP CPS (Central Process Scheduling) Interview Questions SAP CPS (Central Process Scheduling) (14)
  • SAP GTS (Global Trade Services) Interview Questions SAP GTS (Global Trade Services) (21)
  • SAP Hybris Interview Questions SAP Hybris (132)
  • SAP HANA Interview Questions SAP HANA (700)
  • SAP PI (Process Integration) Interview Questions SAP PI (Process Integration) (113)
  • SAP PO (Process Orchestration) Interview Questions SAP PO (Process Orchestration) (25)
  • SAP BI (Business Intelligence) Interview Questions SAP BI (Business Intelligence) (174)
  • SAP BPC (Business Planning and Consolidation) Interview Questions SAP BPC (Business Planning and Consolidation) (38)
  • SAP BODS (Business Objects Data Services) Interview Questions SAP BODS (Business Objects Data Services) (49)
  • SAP BODI (Business Objects Data Integrator) Interview Questions SAP BODI (Business Objects Data Integrator) (26)
  • SAP Ariba Interview Questions SAP Ariba (9)
  • SAP Fiori Interview Questions SAP Fiori (45)
  • SAP EWM (Extended Warehouse Management) Interview Questions SAP EWM (Extended Warehouse Management) (58)
  • Sap R/3 Interview Questions Sap R/3 (150)
  • SAP FSCM Financial Supply Chain Management Interview Questions SAP FSCM Financial Supply Chain Management (101)
  • SAP WM (Warehouse Management) Interview Questions SAP WM (Warehouse Management) (31)
  • SAP GRC (Governance Risk and Compliance) Interview Questions SAP GRC (Governance Risk and Compliance) (64)
  • SAP MDM (Master Data Management) Interview Questions SAP MDM (Master Data Management) (0)
  • SAP MRS (Multi Resource Scheduling) Interview Questions SAP MRS (Multi Resource Scheduling) (0)
  • SAP ESS MSS (Employee Manager Self Service) Interview Questions SAP ESS MSS (Employee Manager Self Service) (13)
  • SAP CS (Customer Service) Interview Questions SAP CS (Customer Service) (0)
  • SAP TRM (Treasury and Risk Management) Interview Questions SAP TRM (Treasury and Risk Management) (0)
  • SAP Web Dynpro ABAP Interview Questions SAP Web Dynpro ABAP (198)
  • SAP IBP (Integrated Business Planning) Interview Questions SAP IBP (Integrated Business Planning) (0)
  • SAP OO-ABAP (Object Oriented ABAP) Interview Questions SAP OO-ABAP (Object Oriented ABAP) (70)
  • SAP S/4 HANA Finance (Simple Finance) Interview Questions SAP S/4 HANA Finance (Simple Finance) (143)
  • SAP FS-CD (Collections and Disbursements) Interview Questions SAP FS-CD (Collections and Disbursements) (0)
  • SAP PLM (Product Lifecycle Management) Interview Questions SAP PLM (Product Lifecycle Management) (0)
  • SAP SuccessFactors Interview Questions SAP SuccessFactors (33)
  • SAP Vistex Interview Questions SAP Vistex (0)
  • SAP ISR (IS Retail) Interview Questions SAP ISR (IS Retail) (28)
  • SAP IdM (Identity Management) Interview Questions SAP IdM (Identity Management) (0)
  • SAP IM (Investment Management) Interview Questions SAP IM (Investment Management) (0)
  • SAP UI5 Interview Questions SAP UI5 (59)
  • SAP SCM (Supply Chain Management) Interview Questions SAP SCM (Supply Chain Management) (51)
  • SAP XI (Exchange Infrastructure) Interview Questions SAP XI (Exchange Infrastructure) (49)
  • SAP Cloud Platform Interview Questions SAP Cloud Platform (34)
  • SAP Testing Interview Questions SAP Testing (89)
  • SAP SolMan (Solution Manager) Interview Questions SAP SolMan (Solution Manager) (63)
  • SAP MaxDB Interview Questions SAP MaxDB (116)
  • SAP GUI Interview Questions SAP GUI (15)
  • SAP AllOther Interview Questions SAP AllOther (329)